abrdn plc Takes $10.20 Million Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

abrdn plc purchased a new stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,217 shares of the company’s stock, valued at approximately $10,197,000. abrdn plc owned approximately 0.09% of Karuna Therapeutics at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KRTX. Signaturefd LLC raised its holdings in Karuna Therapeutics by 266.7% in the 3rd quarter. Signaturefd LLC now owns 275 shares of the company’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Karuna Therapeutics by 34.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock valued at $76,000 after buying an additional 116 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Karuna Therapeutics by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 971 shares of the company’s stock valued at $164,000 after buying an additional 481 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Karuna Therapeutics by 5.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,152 shares of the company’s stock valued at $195,000 after buying an additional 62 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. bought a new position in Karuna Therapeutics in the 4th quarter valued at approximately $222,000.

Karuna Therapeutics Price Performance

NASDAQ:KRTX opened at $329.83 on Friday. The company has a fifty day moving average of $325.43 and a 200-day moving average of $270.33. Karuna Therapeutics, Inc. has a twelve month low of $158.38 and a twelve month high of $329.99. The firm has a market capitalization of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18.

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

Analyst Ratings Changes

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

Insider Activity at Karuna Therapeutics

In related news, insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction on Friday, March 8th. The shares were sold at an average price of $318.34, for a total value of $1,591,700.00. Following the completion of 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 legal filing with the SEC, which is accessible through the SEC website. 13.20% of the stock is currently owned by insiders.

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.