Teachers Retirement System of The State of Kentucky Lowers Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Teachers Retirement System of The State of Kentucky cut its stake in Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Rating) by 17.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 40,393 shares of the company’s stock after selling 8,458 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Karuna Therapeutics were worth $5,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ARCH Venture Management LLC purchased a new stake in shares of Karuna Therapeutics during the fourth quarter valued at approximately $381,586,000. State Street Corp increased its position in shares of Karuna Therapeutics by 22.3% during the first quarter. State Street Corp now owns 1,026,507 shares of the company’s stock valued at $130,151,000 after acquiring an additional 187,142 shares during the last quarter. Deep Track Capital LP purchased a new stake in shares of Karuna Therapeutics during the fourth quarter valued at approximately $17,056,000. Lord Abbett & CO. LLC increased its position in shares of Karuna Therapeutics by 52.9% during the first quarter. Lord Abbett & CO. LLC now owns 369,545 shares of the company’s stock valued at $46,854,000 after acquiring an additional 127,840 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Karuna Therapeutics by 132.7% during the first quarter. Bank of New York Mellon Corp now owns 211,678 shares of the company’s stock valued at $26,839,000 after acquiring an additional 120,709 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on KRTX shares. Guggenheim increased their price target on Karuna Therapeutics from $200.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Bank of America raised their target price on Karuna Therapeutics from $160.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Wells Fargo & Company raised their target price on Karuna Therapeutics from $186.00 to $264.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 10th. HC Wainwright raised their target price on Karuna Therapeutics from $160.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Finally, Citigroup raised their target price on Karuna Therapeutics to $280.00 in a research report on Monday, August 15th. Fifteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $246.38.

Karuna Therapeutics Stock Performance

NASDAQ:KRTX opened at $239.35 on Monday. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of -35.30 and a beta of 1.21. Karuna Therapeutics, Inc. has a 52-week low of $92.26 and a 52-week high of $278.25. The stock has a fifty day moving average of $205.29 and a 200 day moving average of $147.14.

Karuna Therapeutics (NASDAQ:KRTXGet Rating) last released its quarterly earnings results on Monday, August 8th. The company reported ($2.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.02) by ($0.15). The business had revenue of $5.28 million during the quarter. Equities analysts forecast that Karuna Therapeutics, Inc. will post -8 earnings per share for the current fiscal year.

Insider Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 16,500 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $227.83, for a total transaction of $3,759,195.00. Following the sale, the chief financial officer now owns 24,970 shares in the company, valued at $5,688,915.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 16,500 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $227.83, for a total transaction of $3,759,195.00. Following the sale, the chief financial officer now owns 24,970 shares in the company, valued at $5,688,915.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen K. Brannan sold 15,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $133.29, for a total value of $1,999,350.00. Following the sale, the insider now owns 15,000 shares in the company, valued at approximately $1,999,350. The disclosure for this sale can be found here. Insiders have sold 62,500 shares of company stock worth $12,945,435 over the last 90 days. Corporate insiders own 16.20% of the company’s stock.

Karuna Therapeutics Company Profile

(Get Rating)

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 is 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 dementia-related psychosis.

See Also

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Institutional Ownership by Quarter for Karuna Therapeutics (NASDAQ:KRTX)

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