Karuna Therapeutics, Inc. (NASDAQ:KRTX) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 9.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,720 shares of the company’s stock after purchasing an additional 1,872 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Karuna Therapeutics worth $6,558,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC raised its holdings in shares of Karuna Therapeutics by 105.2% during the fourth quarter. Lindbrook Capital LLC now owns 238 shares of the company’s stock valued at $75,000 after buying an additional 122 shares during the last quarter. CWM LLC raised its holdings in Karuna Therapeutics by 75.5% during the fourth quarter. CWM LLC now owns 272 shares of the company’s stock worth $86,000 after purchasing an additional 117 shares in the last quarter. Signaturefd LLC raised its holdings in Karuna Therapeutics by 266.7% during the third quarter. Signaturefd LLC now owns 275 shares of the company’s stock worth $46,000 after purchasing an additional 200 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Karuna Therapeutics during the fourth quarter worth approximately $127,000. Finally, Exchange Traded Concepts LLC raised its holdings in Karuna Therapeutics by 34.5% during the third quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock worth $76,000 after purchasing an additional 116 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Stephen K. Brannan sold 5,000 shares of the business’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 transaction, the insider now owns 42,604 shares in the company, valued at approximately $13,562,557.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 13.20% of the company’s stock.

Karuna Therapeutics Price Performance

Shares of KRTX stock remained flat at $329.83 on Friday. 5 shares of the company traded hands, compared to its average volume of 832,048. Karuna Therapeutics, Inc. has a 1-year low of $158.38 and a 1-year high of $329.99. The firm’s fifty day moving average price is $325.66 and its two-hundred day moving average price is $271.41. The firm has a market cap of $12.58 billion, a PE ratio of -28.14 and a beta of 1.18.

Karuna Therapeutics (NASDAQ:KRTX) last released 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 business’s revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the business earned ($2.22) EPS. As a group, equities analysts predict that Karuna Therapeutics, Inc. will post -11.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Karuna Therapeutics Company 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.