SG Americas Securities LLC Has $1.60 Million Stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

SG Americas Securities LLC reduced its holdings in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Rating) by 64.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,118 shares of the company’s stock after selling 13,054 shares during the period. SG Americas Securities LLC’s holdings in Karuna Therapeutics were worth $1,601,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KRTX. China Universal Asset Management Co. Ltd. bought a new position in shares of Karuna Therapeutics during the 3rd quarter worth approximately $72,000. Lazard Asset Management LLC bought a new position in shares of Karuna Therapeutics during the 1st quarter worth approximately $87,000. Dupont Capital Management Corp bought a new position in shares of Karuna Therapeutics during the 3rd quarter worth approximately $96,000. Nisa Investment Advisors LLC lifted its position in shares of Karuna Therapeutics by 11.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 766 shares of the company’s stock worth $97,000 after buying an additional 80 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Karuna Therapeutics during the 2nd quarter worth approximately $201,000.

Insider Transactions at Karuna Therapeutics

In other news, insider Stephen K. Brannan sold 5,000 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $216.00, for a total value of $1,080,000.00. Following the completion of the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at $3,240,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $216.00, for a total transaction of $1,080,000.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $3,240,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Troy A. Ignelzi sold 16,500 shares of Karuna Therapeutics stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $225.85, for a total transaction of $3,726,525.00. Following the completion of the transaction, the chief financial officer now directly owns 9,970 shares of the company’s stock, valued at $2,251,724.50. The disclosure for this sale can be found here. Insiders sold a total of 61,500 shares of company stock valued at $13,598,625 over the last three months. Corporate insiders own 16.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho dropped their target price on shares of Karuna Therapeutics from $276.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, December 9th. Piper Sandler started coverage on shares of Karuna Therapeutics in a research note on Thursday, January 5th. They set an “overweight” rating and a $285.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Karuna Therapeutics from $292.00 to $293.00 in a report on Thursday, September 29th. Loop Capital started coverage on shares of Karuna Therapeutics in a research note on Tuesday, November 1st. They issued a “buy” rating and a $288.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Karuna Therapeutics from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Friday, November 4th. Fifteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Karuna Therapeutics has an average rating of “Buy” and a consensus price target of $260.69.

Karuna Therapeutics Price Performance

Shares of NASDAQ KRTX opened at $200.75 on Monday. The firm has a fifty day moving average price of $210.43 and a 200-day moving average price of $206.76. The stock has a market cap of $6.90 billion, a PE ratio of -26.98 and a beta of 1.25. Karuna Therapeutics, Inc. has a 1 year low of $92.26 and a 1 year high of $278.25.

Karuna Therapeutics (NASDAQ:KRTXGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($2.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.99) by ($0.39). The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $10.00 million. On average, research analysts expect that Karuna Therapeutics, Inc. will post -8.78 EPS for the current year.

Karuna Therapeutics Profile

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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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