Zurcher Kantonalbank Zurich Cantonalbank Has $1.83 Million Stock Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,770 shares of the company’s stock after acquiring an additional 550 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Karuna Therapeutics were worth $1,826,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake 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 grew its stake 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 bought a new stake in shares of Karuna Therapeutics in the 3rd quarter valued at approximately $2,029,000. New York Life Investment Management LLC grew its stake 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 grew its stake 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 Buying and Selling at Karuna Therapeutics

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction dated 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 sale, the insider now 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. Company insiders own 13.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Mizuho restated 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. restated 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. HC Wainwright restated a “neutral” rating and set a $330.00 price target on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $330.00 price target on shares of Karuna Therapeutics in a research report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $293.92.

Karuna Therapeutics Price Performance

KRTX stock opened at $329.83 on Thursday. The business’s fifty day moving average is $325.22 and its 200-day moving average is $269.92. The company has a market cap of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. Karuna Therapeutics, Inc. has a twelve month low of $158.38 and a twelve month high of $329.99.

Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings data 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 period last year, the business earned ($2.22) earnings per share. The company’s revenue was down 100.0% compared to the same quarter last year. Research analysts anticipate 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.