Mutual of America Capital Management LLC Has $2.31 Million Stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Mutual of America Capital Management LLC decreased its position in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 7,311 shares of the company’s stock after selling 335 shares during the period. Mutual of America Capital Management LLC’s holdings in Karuna Therapeutics were worth $2,314,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in shares of Karuna Therapeutics by 57.3% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Karuna Therapeutics by 5.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,152 shares of the company’s stock worth $195,000 after buying an additional 62 shares during the period. Jump Financial LLC lifted its holdings in Karuna Therapeutics by 2.1% during the 3rd quarter. Jump Financial LLC now owns 3,205 shares of the company’s stock worth $542,000 after buying an additional 65 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Karuna Therapeutics by 87.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 152 shares of the company’s stock worth $33,000 after buying an additional 71 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Karuna Therapeutics by 3.9% during the 1st quarter. Ameriprise Financial Inc. now owns 2,107 shares of the company’s stock worth $383,000 after buying an additional 79 shares during the period.

Insider Activity at Karuna Therapeutics

In related news, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $316.13, for a total value of $1,580,650.00. Following the completion of the sale, the insider now directly owns 41,150 shares of the company’s stock, valued at approximately $13,008,749.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KRTX has been the topic of several recent research reports. Mizuho reaffirmed a “neutral” rating and set a $330.00 target price (up from $245.00) on shares of Karuna Therapeutics in a report on Friday, January 26th. Guggenheim reaffirmed a “neutral” rating on shares of Karuna Therapeutics in a report on Friday, December 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Karuna Therapeutics in a report on Friday, December 22nd. HC Wainwright reaffirmed a “neutral” rating and set a $330.00 target price on shares of Karuna Therapeutics in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $330.00 target price (up from $217.00) on shares of Karuna Therapeutics in a report on Thursday, December 28th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $293.92.

Karuna Therapeutics Price Performance

Shares of Karuna Therapeutics stock opened at $329.83 on Friday. Karuna Therapeutics, Inc. has a one year low of $158.38 and a one year high of $329.99. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of -28.14 and a beta of 1.18. The business has a 50-day simple moving average of $324.58 and a 200 day simple moving average of $265.86.

Karuna Therapeutics (NASDAQ:KRTX) last issued its earnings results on Thursday, February 22nd. The company reported ($3.01) EPS for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.36). During the same quarter last year, the company earned ($2.22) earnings per share. Karuna Therapeutics’s revenue was down 100.0% compared to the same quarter last year. On average, sell-side analysts expect that Karuna Therapeutics, Inc. will post -11.96 EPS for the current year.

Karuna Therapeutics 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 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.