Citigroup Inc. Buys 13,750 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Citigroup Inc. raised its stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 69.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,408 shares of the company’s stock after acquiring an additional 13,750 shares during the period. Citigroup Inc. owned about 0.09% of Karuna Therapeutics worth $6,068,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in shares of Karuna Therapeutics by 594.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 930 shares of the company’s stock valued at $183,000 after acquiring an additional 796 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Karuna Therapeutics by 34.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the company’s stock worth $85,000 after buying an additional 119 shares in the last quarter. Calamos Advisors LLC bought a new stake in Karuna Therapeutics during the 1st quarter worth about $264,000. Fiera Capital Corp grew its holdings in Karuna Therapeutics by 60.1% during the 4th quarter. Fiera Capital Corp now owns 162,726 shares of the company’s stock worth $31,976,000 after acquiring an additional 61,086 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in Karuna Therapeutics by 32.1% in the 1st quarter. Ballentine Partners LLC now owns 2,171 shares of the company’s stock valued at $394,000 after acquiring an additional 528 shares in the last quarter.

Insider Buying and Selling

In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 1,500 shares of Karuna Therapeutics stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $175.12, for a total value of $262,680.00. Following the transaction, the chief financial officer now owns 30,487 shares of the company’s stock, valued at $5,338,883.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Troy A. Ignelzi sold 1,500 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $175.12, for a total transaction of $262,680.00. Following the completion of the sale, the chief financial officer now owns 30,487 shares of the company’s stock, valued at $5,338,883.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey M. Jonas sold 13,810 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $195.81, for a total transaction of $2,704,136.10. Following the completion of the sale, the director now directly owns 990 shares in the company, valued at $193,851.90. The disclosure for this sale can be found here. In the last three months, insiders sold 16,310 shares of company stock valued at $3,182,466. 13.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $300.00 price target on shares of Karuna Therapeutics in a research note on Friday, August 4th. Cantor Fitzgerald restated a “neutral” rating and set a $214.00 target price on shares of Karuna Therapeutics in a research report on Tuesday, August 22nd. 58.com reiterated a “maintains” rating on shares of Karuna Therapeutics in a report on Monday, June 5th. JPMorgan Chase & Co. dropped their price objective on Karuna Therapeutics from $260.00 to $250.00 in a report on Monday, June 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Karuna Therapeutics in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $263.50.

Karuna Therapeutics Stock Up 0.5 %

Shares of NASDAQ KRTX opened at $188.70 on Friday. Karuna Therapeutics, Inc. has a twelve month low of $159.73 and a twelve month high of $263.88. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of -18.59 and a beta of 1.03. The company’s fifty day moving average is $196.13 and its 200-day moving average is $201.58.

Karuna Therapeutics (NASDAQ:KRTX) last posted its earnings results on Thursday, August 3rd. The company reported ($2.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.76) by $0.01. The firm had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.42 million. Karuna Therapeutics had a negative return on equity of 27.13% and a negative net margin of 2,795.96%. The company’s revenue was down 98.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.17) earnings per share. On average, research analysts anticipate that Karuna Therapeutics, Inc. will post -11.04 EPS for the current fiscal year.

Karuna Therapeutics Company Profile

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 includes 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 various peripheral tissues and dementia-related psychosis, including Alzheimer's disease.