Principal Financial Group Inc. lifted its holdings in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,462 shares of the company’s stock after purchasing an additional 169 shares during the period. Principal Financial Group Inc.’s holdings in Karuna Therapeutics were worth $946,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D grew its holdings in Karuna Therapeutics by 10.3% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 23,389 shares of the company’s stock worth $2,965,000 after acquiring an additional 2,179 shares during the last quarter. Barclays PLC raised its position in Karuna Therapeutics by 113.8% in the 4th quarter. Barclays PLC now owns 40,528 shares of the company’s stock worth $5,309,000 after purchasing an additional 21,575 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Karuna Therapeutics by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 4,330 shares of the company’s stock valued at $549,000 after buying an additional 292 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Karuna Therapeutics in the 4th quarter valued at $15,536,000. Finally, ARCH Venture Management LLC bought a new stake in shares of Karuna Therapeutics during the fourth quarter worth $381,586,000.
Insider Transactions at Karuna Therapeutics
In related news, Director Laurie J. Olson sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $267.59, for a total value of $267,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Karuna Therapeutics news, CFO Troy A. Ignelzi sold 16,500 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $227.83, for a total transaction of $3,759,195.00. Following the sale, the chief financial officer now owns 24,970 shares of the company’s stock, valued at $5,688,915.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laurie J. Olson sold 1,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $267.59, for a total transaction of $267,590.00. The disclosure for this sale can be found here. Insiders sold a total of 62,500 shares of company stock worth $12,282,635 over the last quarter. Company insiders own 16.20% of the company’s stock.
Karuna Therapeutics Price Performance
Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($2.10) by ($0.07). On average, equities analysts expect that Karuna Therapeutics, Inc. will post -8.08 EPS for the current year.
Analyst Ratings Changes
KRTX has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Karuna Therapeutics from $186.00 to $264.00 and gave the stock an “overweight” rating in a report on Wednesday, August 10th. HC Wainwright increased their price objective on shares of Karuna Therapeutics from $160.00 to $320.00 and gave the company a “buy” rating in a report on Monday, August 15th. SVB Leerink lifted their target price on shares of Karuna Therapeutics from $170.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Mizuho upped their target price on shares of Karuna Therapeutics from $190.00 to $276.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, JMP Securities lifted their price objective on Karuna Therapeutics from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Tuesday, June 28th. Fifteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Karuna Therapeutics presently has an average rating of “Buy” and a consensus target price of $239.50.
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 is 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 dementia-related psychosis.
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