Cambridge Investment Research Advisors Inc. Sells 4,367 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Cambridge Investment Research Advisors Inc. reduced its position in Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Rating) by 68.0% in the third quarter, Holdings Channel.com reports. The fund owned 2,056 shares of the company’s stock after selling 4,367 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Karuna Therapeutics were worth $462,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Amundi boosted its position in shares of Karuna Therapeutics by 31.0% in the second quarter. Amundi now owns 1,603 shares of the company’s stock valued at $211,000 after acquiring an additional 379 shares during the period. Verition Fund Management LLC bought a new stake in Karuna Therapeutics during the second quarter valued at approximately $201,000. Legal & General Group Plc lifted its position in Karuna Therapeutics by 8.9% during the second quarter. Legal & General Group Plc now owns 22,682 shares of the company’s stock valued at $2,869,000 after purchasing an additional 1,854 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Karuna Therapeutics during the second quarter valued at approximately $932,000. Finally, Goldman Sachs Group Inc. lifted its position in Karuna Therapeutics by 23.0% during the second quarter. Goldman Sachs Group Inc. now owns 186,877 shares of the company’s stock valued at $23,642,000 after purchasing an additional 34,922 shares during the last quarter.

Insider Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 16,500 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $225.85, for a total transaction of $3,726,525.00. Following the transaction, the chief financial officer now directly owns 9,970 shares of the company’s stock, valued at approximately $2,251,724.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 16,500 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $225.85, for a total transaction of $3,726,525.00. Following the transaction, the chief financial officer now directly owns 9,970 shares of the company’s stock, valued at approximately $2,251,724.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $197.52, for a total transaction of $987,600.00. Following the transaction, the insider now directly owns 15,000 shares in the company, valued at $2,962,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,500 shares of company stock valued at $13,598,625. 16.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KRTX shares. Wells Fargo & Company dropped their target price on shares of Karuna Therapeutics from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Mizuho dropped their target price on shares of Karuna Therapeutics from $276.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, December 9th. Royal Bank of Canada boosted their price objective on shares of Karuna Therapeutics from $292.00 to $293.00 in a report on Thursday, September 29th. Piper Sandler started coverage on shares of Karuna Therapeutics in a report on Thursday, January 5th. They issued an “overweight” rating and a $285.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Karuna Therapeutics from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. Fifteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $260.69.

Karuna Therapeutics Stock Down 0.7 %

Shares of NASDAQ KRTX opened at $189.25 on Wednesday. Karuna Therapeutics, Inc. has a 52 week low of $92.26 and a 52 week high of $278.25. The firm’s fifty day moving average is $211.54 and its 200 day moving average is $205.08. The company has a market cap of $6.50 billion, a price-to-earnings ratio of -25.44 and a beta of 1.25.

Karuna Therapeutics (NASDAQ:KRTXGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($2.38) EPS for the quarter, missing the consensus estimate of ($1.99) by ($0.39). The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $10.00 million. Equities research analysts anticipate that Karuna Therapeutics, Inc. will post -8.78 earnings per share for the current year.

About Karuna Therapeutics

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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.

Further Reading

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

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