Allspring Global Investments Holdings LLC Has $32.31 Million Holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Allspring Global Investments Holdings LLC grew its position in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,086 shares of the company’s stock after purchasing an additional 1,057 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.27% of Karuna Therapeutics worth $32,311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in shares of Karuna Therapeutics by 0.6% in the third quarter. FMR LLC now owns 5,650,167 shares of the company’s stock valued at $955,387,000 after purchasing an additional 33,579 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Karuna Therapeutics by 3.4% in the third quarter. Vanguard Group Inc. now owns 3,203,585 shares of the company’s stock valued at $541,694,000 after purchasing an additional 105,686 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Karuna Therapeutics by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,481,560 shares of the company’s stock valued at $450,751,000 after purchasing an additional 118,256 shares during the last quarter. BlackRock Inc. grew its position in shares of Karuna Therapeutics by 2.7% in the first quarter. BlackRock Inc. now owns 2,469,799 shares of the company’s stock valued at $448,614,000 after purchasing an additional 66,068 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Karuna Therapeutics by 23.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,202,631 shares of the company’s stock valued at $236,317,000 after purchasing an additional 229,374 shares during the last quarter.

Insider Activity

In other news, insider Stephen K. Brannan sold 5,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $316.13, for a total value of $1,580,650.00. Following the completion of the transaction, the insider now directly owns 41,150 shares in the company, valued at approximately $13,008,749.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KRTX has been the topic of several research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $330.00 target price (up previously from $295.00) on shares of Karuna Therapeutics in a research report on Friday, December 22nd. JMP Securities reiterated a “market perform” rating on shares of Karuna Therapeutics in a research note on Friday, December 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $330.00 price target (up from $217.00) on shares of Karuna Therapeutics in a research note on Thursday, December 28th. Wedbush cut Karuna Therapeutics from an “outperform” rating to a “neutral” rating and set a $330.00 price target for the company. in a research note on Friday, December 22nd. Finally, William Blair cut Karuna Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, December 22nd. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $293.92.

Karuna Therapeutics Price Performance

NASDAQ KRTX opened at $329.83 on Friday. The business has a fifty day moving average price of $323.19 and a two-hundred day moving average price of $260.22. Karuna Therapeutics, Inc. has a fifty-two week low of $158.38 and a fifty-two week high of $329.99. The stock has a market capitalization of $12.58 billion, a PE ratio of -28.14 and a beta of 1.18.

Karuna Therapeutics (NASDAQ:KRTX) last released its earnings results on Thursday, February 22nd. The company reported ($3.01) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.36). During the same period in the previous year, the company posted ($2.22) earnings per share. Karuna Therapeutics’s revenue was down 100.0% compared to the same quarter last year. As a group, sell-side analysts expect that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current year.

Karuna Therapeutics 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 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.