JGP Global Gestao de Recursos Ltda. Invests $222,000 in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 701 shares of the company’s stock, valued at approximately $222,000.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in Karuna Therapeutics by 57.3% in the first quarter. First Horizon Advisors Inc. now owns 151 shares of the company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Karuna Therapeutics by 87.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 152 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Signaturefd LLC raised its position in shares of Karuna Therapeutics by 266.7% during the 3rd quarter. Signaturefd LLC now owns 275 shares of the company’s stock worth $46,000 after purchasing an additional 200 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Karuna Therapeutics during the 2nd quarter worth approximately $48,000. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Karuna Therapeutics during the 3rd quarter worth approximately $51,000.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wedbush downgraded Karuna Therapeutics from an “outperform” rating to a “neutral” rating and set a $330.00 price objective for the company. in a research report on Friday, December 22nd. HC Wainwright reaffirmed a “neutral” rating and issued a $330.00 target price on shares of Karuna Therapeutics in a research note on Thursday, March 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Karuna Therapeutics in a research note on Tuesday, December 12th. They issued a “buy” rating and a $227.00 target price for the company. Guggenheim reaffirmed a “neutral” rating on shares of Karuna Therapeutics in a research note on Friday, December 22nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Karuna Therapeutics in a research note on Friday, December 22nd. Ten investment 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.com, the stock presently has an average rating of “Hold” and an average price target of $293.92.

Karuna Therapeutics Stock Performance

Karuna Therapeutics stock traded up $0.09 during trading on Wednesday, reaching $329.83. 1,868,500 shares of the company’s stock were exchanged, compared to its average volume of 832,048. The company’s 50-day moving average is $319.27 and its two-hundred day moving average is $247.32. Karuna Therapeutics, Inc. has a 52-week low of $158.38 and a 52-week high of $329.99. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -28.14 and a beta of 1.18.

Karuna Therapeutics (NASDAQ:KRTX) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($3.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.36). During the same period in the previous year, the firm earned ($2.22) EPS. Karuna Therapeutics’s revenue for the quarter was down 100.0% on a year-over-year basis. Analysts anticipate that Karuna Therapeutics, Inc. will post -11.96 EPS for the current year.

Insider Buying and Selling

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $316.13, for a total value of $1,580,650.00. Following the transaction, the insider now owns 41,150 shares in the company, valued at approximately $13,008,749.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Karuna Therapeutics news, insider Stephen K. Brannan sold 15,000 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $316.81, for a total value of $4,752,150.00. Following the transaction, the insider now owns 38,650 shares in the company, valued at approximately $12,244,706.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen K. Brannan sold 5,000 shares of the company’s stock in a transaction dated 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 owns 41,150 shares in the company, valued at approximately $13,008,749.50. The disclosure for this sale can be found here. In the last three months, insiders sold 25,000 shares of company stock valued at $7,924,500. Company insiders own 13.20% of the company’s stock.

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.