Citigroup Inc. Cuts Holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Citigroup Inc. cut its position in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) by 27.6% during the 4th quarter, Holdings Channel reports. The firm owned 19,658 shares of the company’s stock after selling 7,505 shares during the quarter. Citigroup Inc.’s holdings in Karuna Therapeutics were worth $3,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KRTX. Maven Securities LTD bought a new stake in shares of Karuna Therapeutics in the third quarter valued at approximately $900,000. Fiera Capital Corp grew its holdings in shares of Karuna Therapeutics by 60.1% during the 4th quarter. Fiera Capital Corp now owns 162,726 shares of the company’s stock valued at $31,976,000 after purchasing an additional 61,086 shares during the last quarter. Arizona State Retirement System grew its holdings in Karuna Therapeutics by 4.1% in the 4th quarter. Arizona State Retirement System now owns 7,549 shares of the company’s stock worth $1,483,000 after acquiring an additional 294 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Karuna Therapeutics by 168.4% in the 3rd quarter. New York State Common Retirement Fund now owns 56,853 shares of the company’s stock worth $12,788,000 after acquiring an additional 35,670 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Karuna Therapeutics by 28.8% in the 3rd quarter. Nuveen Asset Management LLC now owns 96,986 shares of the company’s stock worth $21,815,000 after acquiring an additional 21,681 shares during the last quarter.

Karuna Therapeutics Price Performance

KRTX stock opened at $223.93 on Monday. Karuna Therapeutics, Inc. has a one year low of $93.47 and a one year high of $278.25. The company’s fifty day moving average price is $195.52 and its 200-day moving average price is $200.73.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.86) by $0.06. The company had revenue of $0.65 million for the quarter. Karuna Therapeutics had a negative net margin of 2,795.96% and a negative return on equity of 30.04%. During the same period in the previous year, the company earned ($1.95) EPS. As a group, analysts anticipate that Karuna Therapeutics, Inc. will post -11.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. HC Wainwright cut their target price on shares of Karuna Therapeutics from $320.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, March 28th. Wells Fargo & Company decreased their target price on shares of Karuna Therapeutics from $262.00 to $257.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. UBS Group began coverage on shares of Karuna Therapeutics in a research note on Friday, January 27th. They issued a “neutral” rating and a $209.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $323.00 price target on shares of Karuna Therapeutics in a research note on Tuesday, March 21st. Finally, Cantor Fitzgerald initiated coverage on shares of Karuna Therapeutics in a research report on Tuesday, March 7th. They set a “neutral” rating and a $214.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.13.

Insider Activity at Karuna Therapeutics

In related news, insider Stephen K. Brannan sold 5,000 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $189.51, for a total transaction of $947,550.00. Following the sale, the insider now owns 23,650 shares of the company’s stock, valued at $4,481,911.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Stephen K. Brannan sold 5,000 shares of the stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $189.51, for a total value of $947,550.00. Following the sale, the insider now owns 23,650 shares of the company’s stock, valued at $4,481,911.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Andrew Craig Miller sold 15,000 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $200.13, for a total transaction of $3,001,950.00. Following the completion of the sale, the chief operating officer now directly owns 24,400 shares in the company, valued at approximately $4,883,172. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $11,019,720 over the last 90 days. 16.20% of the stock is owned by corporate insiders.

Karuna Therapeutics Company Profile

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Karuna Therapeutics, Inc operates as a clinical-stage biopharmaceutical company. engages in business of research and development of therapies utilizing muscarinic cholinergic receptors to treat psychosis and cognitive impairment in numerous central nervous system disorders. The company was founded by Andrew Miller, Eric Elenko, and Peter Jeffrey Conn in July 2009 and is headquartered in Boston, MA.