32,217 Shares in Karuna Therapeutics, Inc. (NASDAQ:KRTX) Purchased by abrdn plc

abrdn plc acquired a new position in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 32,217 shares of the company’s stock, valued at approximately $10,197,000.

Several other hedge funds have also bought and sold shares of the business. Knights of Columbus Asset Advisors LLC boosted its stake in Karuna Therapeutics by 94.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 2,241 shares of the company’s stock worth $709,000 after acquiring an additional 1,089 shares in the last quarter. AIA Group Ltd bought a new stake in Karuna Therapeutics during the fourth quarter worth about $1,149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Karuna Therapeutics by 10.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,770 shares of the company’s stock worth $1,826,000 after acquiring an additional 550 shares in the last quarter. WCM Investment Management LLC boosted its stake in Karuna Therapeutics by 92.9% during the fourth quarter. WCM Investment Management LLC now owns 37,686 shares of the company’s stock worth $11,920,000 after acquiring an additional 18,146 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in Karuna Therapeutics by 33.4% during the fourth quarter. Moody Aldrich Partners LLC now owns 2,951 shares of the company’s stock worth $934,000 after acquiring an additional 739 shares in the last quarter.

Karuna Therapeutics Price Performance

KRTX opened at $329.83 on Friday. The firm has a 50 day moving average price of $325.43 and a 200-day moving average price of $270.33. Karuna Therapeutics, Inc. has a twelve month low of $158.38 and a twelve month high of $329.99. The stock has a market capitalization of $12.58 billion, a price-to-earnings 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 for the quarter, missing the consensus estimate of ($2.65) by ($0.36). During the same quarter in the previous year, the firm earned ($2.22) EPS. Karuna Therapeutics’s revenue was down 100.0% compared to the same quarter last year. As a group, analysts expect that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Karuna Therapeutics

In related news, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $316.13, for a total transaction of $1,580,650.00. Following the completion of the sale, the insider now directly owns 41,150 shares in the company, valued at $13,008,749.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.20% of the stock is currently owned by company insiders.

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 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.