Stephen K. Brannan Sells 5,000 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) Stock

Karuna Therapeutics, Inc. (NASDAQ:KRTXGet Free Report) insider Stephen K. Brannan sold 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $318.34, for a total transaction of $1,591,700.00. Following the completion of the sale, the insider now directly owns 42,604 shares in the company, valued at $13,562,557.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Karuna Therapeutics Trading Up 1.0 %

NASDAQ KRTX opened at $322.32 on Wednesday. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of -27.50 and a beta of 1.18. The firm’s 50 day simple moving average is $316.73 and its 200 day simple moving average is $237.18. Karuna Therapeutics, Inc. has a 1 year low of $158.38 and a 1 year high of $322.32.

Karuna Therapeutics (NASDAQ:KRTXGet Free Report) last posted its quarterly earnings results 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 business’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business posted ($2.22) EPS. On average, equities research analysts forecast that Karuna Therapeutics, Inc. will post -11.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KRTX. HC Wainwright cut shares of Karuna Therapeutics from a “buy” rating to a “neutral” rating and upped their target price for the company from $300.00 to $330.00 in a report on Tuesday, December 26th. Citigroup began coverage on shares of Karuna Therapeutics in a report on Tuesday, December 12th. They issued a “buy” rating and a $291.00 price target on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $330.00 price target on shares of Karuna Therapeutics in a report on Tuesday, February 20th. Morgan Stanley reissued an “equal weight” rating and issued a $330.00 price target (up from $295.00) on shares of Karuna Therapeutics in a report on Friday, December 22nd. Finally, Mizuho reissued 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $293.92.

Read Our Latest Analysis on KRTX

Institutional Trading of Karuna Therapeutics

Large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in shares of Karuna Therapeutics by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 103 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Karuna Therapeutics by 429.2% in the 4th quarter. Russell Investments Group Ltd. now owns 127 shares of the company’s stock valued at $40,000 after purchasing an additional 103 shares during the last quarter. First Horizon Advisors Inc. lifted its stake 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 during the last quarter. PNC Financial Services Group Inc. lifted its stake in Karuna Therapeutics by 87.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 152 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Finally, Clear Street Markets LLC bought a new position in Karuna Therapeutics in the 4th quarter valued at approximately $63,000.

About Karuna Therapeutics

(Get Free Report)

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 that is in Phase III clinical trial 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.

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Insider Buying and Selling by Quarter for Karuna Therapeutics (NASDAQ:KRTX)

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