Karuna Therapeutics, Inc. (NASDAQ:KRTX) Insider Stephen K. Brannan Sells 5,000 Shares

Karuna Therapeutics, Inc. (NASDAQ:KRTX) insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $184.04, for a total transaction of $920,200.00. Following the transaction, the insider now owns 28,650 shares of the company’s stock, valued at approximately $5,272,746. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Karuna Therapeutics Price Performance

Karuna Therapeutics stock traded up $0.57 during midday trading on Monday, hitting $184.80. 165,527 shares of the company were exchanged, compared to its average volume of 357,650. Karuna Therapeutics, Inc. has a fifty-two week low of $159.73 and a fifty-two week high of $259.18. The company’s fifty day moving average price is $192.86 and its 200-day moving average price is $201.46. The company has a market cap of $6.96 billion, a PE ratio of -18.32 and a beta of 1.06.

Karuna Therapeutics (NASDAQ:KRTX) last posted its earnings results on Thursday, August 3rd. The company reported ($2.75) EPS for the quarter, topping analysts’ consensus estimates of ($2.76) by $0.01. The business had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.42 million. Karuna Therapeutics had a negative net margin of 2,795.96% and a negative return on equity of 27.13%. The business’s revenue for the quarter was down 98.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.17) earnings per share. On average, analysts expect that Karuna Therapeutics, Inc. will post -11.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on KRTX. HC Wainwright reaffirmed a “buy” rating and set a $300.00 price objective on shares of Karuna Therapeutics in a research note on Friday, August 4th. Royal Bank of Canada lowered their price target on shares of Karuna Therapeutics from $249.00 to $235.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $214.00 price objective on shares of Karuna Therapeutics in a research report on Tuesday, August 22nd. Morgan Stanley restated an “overweight” rating and set a $280.00 target price on shares of Karuna Therapeutics in a research report on Friday, August 4th. Finally, Bank of America cut their price target on Karuna Therapeutics from $304.00 to $259.00 and set a “buy” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $263.15.

Hedge Funds Weigh In On Karuna Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its stake in shares of Karuna Therapeutics by 57.3% during the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Karuna Therapeutics by 87.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 152 shares of the company’s stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. IFP Advisors Inc grew its holdings in Karuna Therapeutics by 42.2% during the 4th quarter. IFP Advisors Inc now owns 532 shares of the company’s stock worth $36,000 after acquiring an additional 158 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Karuna Therapeutics in the 2nd quarter worth about $48,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of Karuna Therapeutics in the 3rd quarter worth about $51,000.

Karuna Therapeutics Company Profile

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 includes 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 various peripheral tissues and dementia-related psychosis, including Alzheimer's disease.