AIA Group Ltd Takes Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

AIA Group Ltd acquired a new stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,630 shares of the company’s stock, valued at approximately $1,149,000.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Karuna Therapeutics by 349.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,363 shares of the company’s stock valued at $1,381,000 after purchasing an additional 3,392 shares during the period. SG Americas Securities LLC boosted its position in shares of Karuna Therapeutics by 598.2% in the 3rd quarter. SG Americas Securities LLC now owns 6,745 shares of the company’s stock valued at $1,141,000 after purchasing an additional 5,779 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Karuna Therapeutics in the 3rd quarter valued at about $2,029,000. New York Life Investment Management LLC boosted its position in shares of Karuna Therapeutics by 140.1% in the 3rd quarter. New York Life Investment Management LLC now owns 3,788 shares of the company’s stock valued at $641,000 after purchasing an additional 2,210 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Karuna Therapeutics by 16.4% in the 3rd quarter. Deutsche Bank AG now owns 51,584 shares of the company’s stock valued at $8,722,000 after purchasing an additional 7,282 shares during the period.

Insider Activity at Karuna Therapeutics

In related news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $318.34, for a total value of $1,591,700.00. Following the completion of the transaction, the insider now directly owns 42,604 shares of the company’s stock, valued at approximately $13,562,557.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KRTX has been the subject of a number of research analyst reports. Wedbush cut Karuna Therapeutics from an “outperform” rating to a “neutral” rating and set a $330.00 target price for the company. in a research report on Friday, December 22nd. HC Wainwright reaffirmed a “neutral” rating and set a $330.00 price objective on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Guggenheim reaffirmed a “neutral” rating on shares of Karuna Therapeutics in a research report on Friday, December 22nd. Mizuho reaffirmed a “neutral” rating and set a $330.00 price objective (up from $245.00) on shares of Karuna Therapeutics in a research report on Friday, January 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $330.00 price objective (up from $295.00) on shares of Karuna Therapeutics in a research report on Friday, December 22nd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $293.92.

Karuna Therapeutics Price Performance

KRTX opened at $329.83 on Friday. The business has a 50 day simple moving average of $324.58 and a 200-day simple moving average of $265.86. The stock has a market capitalization of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. Karuna Therapeutics, Inc. has a 12 month low of $158.38 and a 12 month high of $329.99.

Karuna Therapeutics (NASDAQ:KRTX) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($3.01) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.36). During the same quarter last year, the business earned ($2.22) earnings per share. Karuna Therapeutics’s quarterly revenue was down 100.0% compared to the same quarter last year. Research analysts anticipate that Karuna Therapeutics, Inc. will post -11.96 EPS for the current year.

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 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.