Zurcher Kantonalbank Zurich Cantonalbank Purchases 550 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,770 shares of the company’s stock after acquiring an additional 550 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Karuna Therapeutics were worth $1,826,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Karuna Therapeutics by 266.7% during the third quarter. Signaturefd LLC now owns 275 shares of the company’s stock valued at $46,000 after purchasing an additional 200 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Karuna Therapeutics by 34.5% during the third quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock valued at $76,000 after purchasing an additional 116 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Karuna Therapeutics by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 971 shares of the company’s stock valued at $164,000 after purchasing an additional 481 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Karuna Therapeutics by 5.7% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,152 shares of the company’s stock valued at $195,000 after purchasing an additional 62 shares during the period. Finally, JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Karuna Therapeutics during the fourth quarter valued at about $222,000.

Insider Activity

In other news, insider Stephen K. Brannan sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $318.34, for a total transaction of $1,591,700.00. Following the completion of the transaction, the insider now directly owns 42,604 shares of the company’s stock, valued at approximately $13,562,557.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho restated a “neutral” rating and issued a $330.00 target price (up previously from $245.00) on shares of Karuna Therapeutics in a report on Friday, January 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $330.00 target price (up previously from $217.00) on shares of Karuna Therapeutics in a report on Thursday, December 28th. HC Wainwright restated a “neutral” rating and issued a $330.00 target price on shares of Karuna Therapeutics in a report on Thursday, March 14th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $330.00 target price on shares of Karuna Therapeutics in a report on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $293.92.

Karuna Therapeutics Stock Performance

Shares of KRTX stock opened at $329.83 on Thursday. Karuna Therapeutics, Inc. has a 52-week low of $158.38 and a 52-week high of $329.99. The company has a 50-day simple moving average of $325.22 and a two-hundred day simple moving average of $269.92. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of -28.14 and a beta of 1.18.

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

About Karuna Therapeutics

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.