Los Angeles Capital Management LLC Takes Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Los Angeles Capital Management LLC bought a new stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,907 shares of the company’s stock, valued at approximately $1,104,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KRTX. China Universal Asset Management Co. Ltd. bought a new position in shares of Karuna Therapeutics in the third quarter valued at $72,000. Lazard Asset Management LLC bought a new position in shares of Karuna Therapeutics in the first quarter valued at $87,000. Dupont Capital Management Corp bought a new position in shares of Karuna Therapeutics in the third quarter valued at $96,000. Nisa Investment Advisors LLC grew its stake in shares of Karuna Therapeutics by 11.7% in the second quarter. Nisa Investment Advisors LLC now owns 766 shares of the company’s stock valued at $97,000 after buying an additional 80 shares in the last quarter. Finally, Assetmark Inc. bought a new position in shares of Karuna Therapeutics in the third quarter valued at $115,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho decreased their target price on shares of Karuna Therapeutics from $276.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, December 9th. Loop Capital started coverage on shares of Karuna Therapeutics in a research report on Tuesday, November 1st. They set a “buy” rating and a $288.00 price objective for the company. Piper Sandler started coverage on shares of Karuna Therapeutics in a research report on Thursday, January 5th. They set an “overweight” rating and a $285.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Karuna Therapeutics from $292.00 to $293.00 in a research report on Thursday, September 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Karuna Therapeutics from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Fifteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Karuna Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $260.69.

Karuna Therapeutics Stock Up 1.3 %

KRTX stock opened at $196.50 on Tuesday. The company has a market cap of $6.75 billion, a PE ratio of -26.41 and a beta of 1.25. The business has a 50-day simple moving average of $207.27 and a 200 day simple moving average of $209.58. Karuna Therapeutics, Inc. has a 52 week low of $92.26 and a 52 week high of $278.25.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($2.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.99) by ($0.39). The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $10.00 million. On average, analysts anticipate that Karuna Therapeutics, Inc. will post -8.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $197.52, for a total transaction of $987,600.00. Following the completion of the transaction, the insider now owns 15,000 shares of the company’s stock, valued at $2,962,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Karuna Therapeutics news, Director James Healy sold 6,027 shares of the business’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $199.90, for a total transaction of $1,204,797.30. Following the completion of the transaction, the director now owns 32,500 shares of the company’s stock, valued at $6,496,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $197.52, for a total value of $987,600.00. Following the sale, the insider now owns 15,000 shares in the company, valued at $2,962,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,727 shares of company stock valued at $14,843,450. 16.20% of the stock is currently owned by corporate insiders.

Karuna Therapeutics Profile

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Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, creates and delivers transformative medicines for people living with psychiatric and neurological conditions. Its lead product candidate is KarXT, an oral modulator of muscarinic receptors that is in Phase III clinical trial for the treatment of acute psychosis in patients with schizophrenia; and for the treatment of central nervous system disorders, such as negative and cognitive symptoms of schizophrenia and psychosis, as well as for the treatment of dementia-related psychosis.