Karuna Therapeutics, Inc. (NASDAQ:KRTX) Shares Sold by Xponance Inc.

Xponance Inc. cut its holdings in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,432 shares of the company’s stock after selling 217 shares during the period. Xponance Inc.’s holdings in Karuna Therapeutics were worth $1,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KRTX. Signaturefd LLC grew its stake in 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 purchasing an additional 200 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Karuna Therapeutics by 34.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock valued at $76,000 after buying an additional 116 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Karuna Therapeutics during the fourth quarter worth approximately $222,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Karuna Therapeutics by 98.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 971 shares of the company’s stock worth $164,000 after buying an additional 481 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in Karuna Therapeutics by 5.7% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,152 shares of the company’s stock valued at $195,000 after acquiring an additional 62 shares in the last quarter.

Karuna Therapeutics Stock Performance

NASDAQ KRTX opened at $329.83 on Thursday. The company has a 50-day moving average price of $325.22 and a two-hundred day moving average price of $269.92. Karuna Therapeutics, Inc. has a 52 week low of $158.38 and a 52 week high of $329.99. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of -28.14 and a beta of 1.18.

Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($3.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned ($2.22) earnings per share. As a group, equities research analysts expect that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho reissued a “neutral” rating and issued a $330.00 target price (up previously from $245.00) on shares of Karuna Therapeutics in a research report on Friday, January 26th. HC Wainwright restated a “neutral” rating and set a $330.00 price objective on shares of Karuna Therapeutics in a research note on Thursday, March 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $330.00 target price (up previously from $217.00) on shares of Karuna Therapeutics in a report on Thursday, December 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $330.00 price target on shares of Karuna Therapeutics in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $293.92.

Insider Activity

In related news, insider Stephen K. Brannan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $316.13, for a total value of $1,580,650.00. Following the completion of the sale, the insider now owns 41,150 shares of the company’s stock, valued at $13,008,749.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.20% of the company’s stock.

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.