Arizona State Retirement System Purchases 294 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Arizona State Retirement System grew its position in Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,549 shares of the company’s stock after acquiring an additional 294 shares during the quarter. Arizona State Retirement System’s holdings in Karuna Therapeutics were worth $1,483,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KRTX. Maven Securities LTD bought a new stake in Karuna Therapeutics in the third quarter worth about $900,000. New York State Common Retirement Fund boosted its holdings in Karuna Therapeutics by 168.4% during the 3rd quarter. New York State Common Retirement Fund now owns 56,853 shares of the company’s stock valued at $12,788,000 after acquiring an additional 35,670 shares during the period. Nuveen Asset Management LLC grew its position in Karuna Therapeutics by 28.8% in the 3rd quarter. Nuveen Asset Management LLC now owns 96,986 shares of the company’s stock valued at $21,815,000 after acquiring an additional 21,681 shares during the last quarter. Moody Aldrich Partners LLC grew its position in Karuna Therapeutics by 18.5% in the 4th quarter. Moody Aldrich Partners LLC now owns 18,055 shares of the company’s stock valued at $3,548,000 after acquiring an additional 2,816 shares during the last quarter. Finally, Ethic Inc. purchased a new stake in Karuna Therapeutics in the third quarter worth $208,000.

Insider Buying and Selling

In other Karuna Therapeutics news, Director Laurie J. Olson sold 1,000 shares of Karuna Therapeutics stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $181.02, for a total transaction of $181,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Stephen K. Brannan sold 5,000 shares of the stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $176.88, for a total transaction of $884,400.00. Following the transaction, the insider now owns 23,650 shares of the company’s stock, valued at approximately $4,183,212. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Laurie J. Olson sold 1,000 shares of Karuna Therapeutics stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $181.02, for a total transaction of $181,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,000 shares of company stock valued at $11,019,720. 16.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KRTX shares. UBS Group assumed coverage on shares of Karuna Therapeutics in a report on Friday, January 27th. They issued a “neutral” rating and a $209.00 price target on the stock. Wedbush reaffirmed an “outperform” rating on shares of Karuna Therapeutics in a research report on Tuesday, March 21st. HC Wainwright decreased their price target on shares of Karuna Therapeutics from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, March 28th. Mizuho increased their price objective on Karuna Therapeutics from $270.00 to $274.00 in a research note on Monday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $323.00 target price on shares of Karuna Therapeutics in a research report on Tuesday, March 21st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Karuna Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $277.13.

Karuna Therapeutics Price Performance

NASDAQ KRTX opened at $227.80 on Friday. The company has a market capitalization of $8.53 billion, a PE ratio of -23.80 and a beta of 1.15. Karuna Therapeutics, Inc. has a 1 year low of $92.26 and a 1 year high of $278.25. The company has a fifty day moving average of $191.54 and a 200 day moving average of $200.79.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($2.80) EPS for the quarter, topping the consensus estimate of ($2.86) by $0.06. The firm had revenue of $0.65 million during the quarter. Karuna Therapeutics had a negative return on equity of 30.04% and a negative net margin of 2,795.96%. During the same quarter in the previous year, the firm posted ($1.95) earnings per share. Research analysts expect that Karuna Therapeutics, Inc. will post -11.35 earnings per share for the current year.

About Karuna Therapeutics

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Karuna Therapeutics, Inc operates as a clinical-stage biopharmaceutical company. engages in business of research and development of therapies utilizing muscarinic cholinergic receptors to treat psychosis and cognitive impairment in numerous central nervous system disorders. The company was founded by Andrew Miller, Eric Elenko, and Peter Jeffrey Conn in July 2009 and is headquartered in Boston, MA.