Nisa Investment Advisors LLC Lowers Stock Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Nisa Investment Advisors LLC lessened its holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 49.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 275 shares of the company’s stock after selling 265 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Karuna Therapeutics were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in Karuna Therapeutics by 57.3% in the 1st quarter. First Horizon Advisors Inc. now owns 151 shares of the company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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 period. Lazard Asset Management LLC acquired a new stake in shares of Karuna Therapeutics during the 2nd quarter valued at approximately $48,000. Almanack Investment Partners LLC. acquired a new stake in shares of Karuna Therapeutics during the 3rd quarter valued at approximately $51,000. Finally, Signaturefd LLC lifted its position in shares of Karuna Therapeutics by 266.7% during the 3rd quarter. Signaturefd LLC now owns 275 shares of the company’s stock valued at $46,000 after acquiring an additional 200 shares during the period.

Insider Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KRTX. HC Wainwright reiterated a “neutral” rating and set a $330.00 price target on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Mizuho reiterated a “neutral” rating and set a $330.00 price target (up from $245.00) on shares of Karuna Therapeutics in a research report on Friday, January 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $330.00 price target (up from $217.00) on shares of Karuna Therapeutics in a research report on Thursday, December 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $330.00 price target on shares of Karuna Therapeutics in a research report on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $293.92.

Karuna Therapeutics Stock Performance

Shares of KRTX opened at $329.83 on Friday. The stock has a fifty day moving average of $324.58 and a two-hundred day moving average of $266.60. The company has a market capitalization of $12.58 billion, a PE ratio of -28.14 and a beta of 1.18. Karuna Therapeutics, Inc. has a fifty-two week low of $158.38 and a fifty-two week high of $329.99.

Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly 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). Karuna Therapeutics’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.22) earnings per share. As a group, equities research analysts forecast that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current fiscal year.

About Karuna Therapeutics

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.