Handelsbanken Fonder AB Buys 1,300 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Handelsbanken Fonder AB increased its stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 22.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,000 shares of the company’s stock after purchasing an additional 1,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Karuna Therapeutics were worth $2,216,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Knights of Columbus Asset Advisors LLC grew its position in Karuna Therapeutics by 5.7% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,152 shares of the company’s stock worth $195,000 after acquiring an additional 62 shares in the last quarter. Jump Financial LLC lifted its stake in Karuna Therapeutics by 2.1% in the third quarter. Jump Financial LLC now owns 3,205 shares of the company’s stock worth $542,000 after purchasing an additional 65 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Karuna Therapeutics by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 15,620 shares of the company’s stock worth $2,641,000 after purchasing an additional 80 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Karuna Therapeutics by 34.5% in the third quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock worth $76,000 after purchasing an additional 116 shares during the last quarter. Finally, CWM LLC lifted its stake in Karuna Therapeutics by 75.5% in the fourth quarter. CWM LLC now owns 272 shares of the company’s stock worth $86,000 after purchasing an additional 117 shares during the last quarter.

Wall Street Analyst Weigh In

KRTX has been the subject of several analyst reports. HC Wainwright reissued a “neutral” rating and issued a $330.00 price objective on shares of Karuna Therapeutics in a research note on Thursday, March 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $330.00 price objective on shares of Karuna Therapeutics in a research note on Tuesday, February 20th. Finally, Mizuho reissued a “neutral” rating and issued a $330.00 price objective (up previously from $245.00) on shares of Karuna Therapeutics in a research note on Friday, January 26th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $293.92.

Insider Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $318.34, for a total value of $1,591,700.00. Following the sale, the insider now directly owns 42,604 shares of the company’s stock, valued at $13,562,557.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.20% of the stock is owned by corporate insiders.

Karuna Therapeutics Price Performance

Shares of KRTX opened at $329.83 on Friday. Karuna Therapeutics, Inc. has a 1-year low of $158.38 and a 1-year high of $329.99. The firm has a market capitalization of $12.58 billion, a PE ratio of -28.14 and a beta of 1.18. The company’s fifty day moving average price is $325.66 and its 200-day moving average price is $271.41.

Karuna Therapeutics (NASDAQ:KRTX) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($3.01) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.36). During the same quarter in the prior year, the firm earned ($2.22) EPS. Karuna Therapeutics’s revenue was down 100.0% on a year-over-year basis. As a group, research analysts anticipate 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.