Swiss National Bank Raises Stock Holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Swiss National Bank grew its holdings in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 9.6% during the second quarter, Holdings Channel reports. The firm owned 65,100 shares of the company’s stock after purchasing an additional 5,700 shares during the quarter. Swiss National Bank’s holdings in Karuna Therapeutics were worth $14,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of KRTX. Wellington Management Group LLP increased its stake in Karuna Therapeutics by 52.3% during the first quarter. Wellington Management Group LLP now owns 1,606,854 shares of the company’s stock worth $291,869,000 after purchasing an additional 551,778 shares during the period. FMR LLC increased its stake in Karuna Therapeutics by 8.8% during the first quarter. FMR LLC now owns 5,606,086 shares of the company’s stock worth $1,018,289,000 after purchasing an additional 453,096 shares during the period. Vanguard Group Inc. increased its stake in Karuna Therapeutics by 20.7% during the third quarter. Vanguard Group Inc. now owns 2,621,585 shares of the company’s stock worth $589,672,000 after purchasing an additional 448,871 shares during the period. Norges Bank purchased a new stake in Karuna Therapeutics during the fourth quarter worth about $61,207,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in Karuna Therapeutics by 23.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,202,631 shares of the company’s stock worth $236,317,000 after purchasing an additional 229,374 shares during the period.

Insider Activity

In other news, Director Jeffrey M. Jonas sold 13,809 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $187.93, for a total value of $2,595,125.37. Following the completion of the sale, the director now directly owns 990 shares of the company’s stock, valued at $186,050.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey M. Jonas sold 13,809 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $187.93, for a total value of $2,595,125.37. Following the completion of the sale, the director now directly owns 990 shares of the company’s stock, valued at $186,050.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen K. Brannan sold 5,000 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $173.24, for a total value of $866,200.00. Following the completion of the sale, the insider now directly owns 31,150 shares of the company’s stock, valued at $5,396,426. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,809 shares of company stock valued at $5,270,775. 13.20% of the stock is currently owned by company insiders.

Karuna Therapeutics Stock Up 0.2 %

Shares of KRTX opened at $180.13 on Tuesday. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of -16.48 and a beta of 1.14. Karuna Therapeutics, Inc. has a 52-week low of $158.38 and a 52-week high of $245.00. The stock has a 50 day moving average price of $172.14 and a 200 day moving average price of $195.40.

Analyst Ratings Changes

KRTX has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $253.00 price target on shares of Karuna Therapeutics in a research note on Friday. Mizuho lowered their price objective on Karuna Therapeutics from $274.00 to $258.00 and set a “buy” rating for the company in a research report on Friday, August 4th. HC Wainwright reissued a “buy” rating and set a $300.00 price objective on shares of Karuna Therapeutics in a research report on Monday. Morgan Stanley reissued an “overweight” rating and set a $280.00 price objective on shares of Karuna Therapeutics in a research report on Friday, August 4th. Finally, Bank of America lowered their price objective on Karuna Therapeutics from $304.00 to $259.00 and set a “buy” rating for the company in a research report on Friday, September 8th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.38.

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 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.