Handelsbanken Fonder AB Raises Stock Holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Handelsbanken Fonder AB lifted its holdings in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 22.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,000 shares of the company’s stock after acquiring an additional 1,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Karuna Therapeutics were worth $2,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KRTX. Signaturefd LLC increased its position in Karuna Therapeutics by 266.7% in the third quarter. Signaturefd LLC now owns 275 shares of the company’s stock worth $46,000 after buying an additional 200 shares during the last quarter. Lindbrook Capital LLC increased its position in Karuna Therapeutics by 105.2% in the fourth quarter. Lindbrook Capital LLC now owns 238 shares of the company’s stock worth $75,000 after buying an additional 122 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Karuna Therapeutics by 34.5% in the third quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock worth $76,000 after buying an additional 116 shares during the last quarter. CWM LLC increased its position in Karuna Therapeutics by 75.5% in the fourth quarter. CWM LLC now owns 272 shares of the company’s stock worth $86,000 after buying an additional 117 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in 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.

Insider Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $318.34, for a total transaction of $1,591,700.00. Following the sale, the insider now owns 42,604 shares in the company, valued at $13,562,557.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.20% of the company’s stock.

Karuna Therapeutics Stock Performance

NASDAQ:KRTX opened at $329.83 on Friday. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of -28.14 and a beta of 1.18. Karuna Therapeutics, Inc. has a 52-week low of $158.38 and a 52-week high of $329.99. The stock has a fifty day moving average of $325.66 and a 200 day moving average of $271.41.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $330.00 target price on shares of Karuna Therapeutics in a research report on Tuesday, February 20th. HC Wainwright reissued a “neutral” rating and issued a $330.00 target price on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $330.00 price target (up from $245.00) on shares of Karuna Therapeutics in a report on Friday, January 26th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.92.

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.