Assetmark Inc. Purchases Shares of 512 Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Assetmark Inc. purchased a new stake in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) in the 3rd quarter, HoldingsChannel reports. The fund purchased 512 shares of the company’s stock, valued at approximately $115,000.

Several other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Karuna Therapeutics in the 3rd quarter valued at approximately $72,000. Dupont Capital Management Corp purchased a new position in shares of Karuna Therapeutics in the 3rd quarter valued at approximately $96,000. Lazard Asset Management LLC purchased a new position in shares of Karuna Therapeutics in the 1st quarter valued at approximately $87,000. Nisa Investment Advisors LLC raised its position in shares of Karuna Therapeutics by 11.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 766 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC purchased a new position in shares of Karuna Therapeutics in the 3rd quarter valued at approximately $246,000.

Insider Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $200.14, for a total value of $40,028.00. Following the completion of the sale, the chief financial officer now owns 21,837 shares in the company, valued at $4,370,457.18. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Troy A. Ignelzi sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $200.14, for a total transaction of $40,028.00. Following the completion of the sale, the chief financial officer now owns 21,837 shares in the company, valued at $4,370,457.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen K. Brannan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $216.00, for a total value of $1,080,000.00. Following the sale, the insider now owns 15,000 shares of the company’s stock, valued at approximately $3,240,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,727 shares of company stock worth $14,843,450. 16.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Karuna Therapeutics Trading Up 1.4 %

Shares of NASDAQ KRTX opened at $193.89 on Friday. Karuna Therapeutics, Inc. has a twelve month low of $92.26 and a twelve month high of $278.25. The stock has a 50 day moving average of $207.88 and a two-hundred day moving average of $208.59. The stock has a market cap of $6.66 billion, a P/E ratio of -26.06 and a beta of 1.25.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($2.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.99) by ($0.39). The business had revenue of $0.08 million during the quarter, compared to the consensus estimate of $10.00 million. As a group, research analysts predict 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.