4,261 Shares in Karuna Therapeutics, Inc. (NASDAQ:KRTX) Purchased by Brinker Capital Investments LLC

Brinker Capital Investments LLC bought a new position in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Rating) in the 3rd quarter, Holdings Channel.com reports. The firm bought 4,261 shares of the company’s stock, valued at approximately $958,000.

Several other institutional investors have also recently made changes to their positions in KRTX. JPMorgan Chase & Co. grew its position in shares of Karuna Therapeutics by 19.6% during the first quarter. JPMorgan Chase & Co. now owns 20,218 shares of the company’s stock worth $2,563,000 after purchasing an additional 3,317 shares in the last quarter. Bank of New York Mellon Corp grew 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 worth $26,839,000 after purchasing an additional 120,709 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Karuna Therapeutics by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,172 shares of the company’s stock worth $275,000 after purchasing an additional 105 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Karuna Therapeutics by 53.7% during the first quarter. MetLife Investment Management LLC now owns 12,299 shares of the company’s stock worth $1,559,000 after purchasing an additional 4,297 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Karuna Therapeutics by 3.0% during the first quarter. Rhumbline Advisers now owns 23,080 shares of the company’s stock worth $2,926,000 after purchasing an additional 669 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on KRTX shares. Wells Fargo & Company cut their target price on 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 price target on Karuna Therapeutics from $276.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, December 9th. Piper Sandler assumed coverage on Karuna Therapeutics in a research note on Thursday, January 5th. They set an “overweight” rating and a $285.00 price target for the company. Loop Capital assumed coverage on Karuna Therapeutics in a research note on Tuesday, November 1st. They set a “buy” rating and a $288.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Karuna Therapeutics from $292.00 to $293.00 in a research note on Thursday, September 29th. Fifteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $260.69.

Insider Transactions at Karuna Therapeutics

In other news, COO Andrew Craig Miller sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $225.08, for a total value of $3,376,200.00. Following the sale, the chief operating officer now directly owns 38,500 shares in the company, valued at $8,665,580. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Andrew Craig Miller sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $225.08, for a total value of $3,376,200.00. Following the sale, the chief operating officer now directly owns 38,500 shares in the company, valued at $8,665,580. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Troy A. Ignelzi sold 200 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 67,727 shares of company stock worth $14,843,450. 16.20% of the stock is currently owned by company insiders.

Karuna Therapeutics Price Performance

NASDAQ:KRTX opened at $193.89 on Monday. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of -26.06 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. The business has a 50 day simple moving average of $207.88 and a 200-day simple moving average of $209.14.

Karuna Therapeutics (NASDAQ:KRTXGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($2.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.99) by ($0.39). The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $10.00 million. As a group, analysts expect that Karuna Therapeutics, Inc. will post -8.78 earnings per share for the current fiscal 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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