New York State Common Retirement Fund Reduces Stock Holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

New York State Common Retirement Fund reduced its stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,089 shares of the company’s stock after selling 4,694 shares during the period. New York State Common Retirement Fund’s holdings in Karuna Therapeutics were worth $29,464,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KRTX. China Universal Asset Management Co. Ltd. grew its position in shares of Karuna Therapeutics by 349.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,363 shares of the company’s stock worth $1,381,000 after acquiring an additional 3,392 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Karuna Therapeutics by 598.2% during the third quarter. SG Americas Securities LLC now owns 6,745 shares of the company’s stock worth $1,141,000 after acquiring an additional 5,779 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Karuna Therapeutics during the third quarter worth approximately $2,029,000. New York Life Investment Management LLC grew its position in shares of Karuna Therapeutics by 140.1% during the third quarter. New York Life Investment Management LLC now owns 3,788 shares of the company’s stock worth $641,000 after acquiring an additional 2,210 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Karuna Therapeutics by 16.4% during the third quarter. Deutsche Bank AG now owns 51,584 shares of the company’s stock worth $8,722,000 after acquiring an additional 7,282 shares during the last quarter.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $318.34, for a total transaction of $1,591,700.00. Following the completion of the sale, the insider now owns 42,604 shares in the company, valued at approximately $13,562,557.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.20% of the stock is currently owned by company insiders.

Karuna Therapeutics Price Performance

NASDAQ:KRTX opened at $329.83 on Friday. The company has a market capitalization of $12.58 billion, a PE ratio of -28.14 and a beta of 1.18. Karuna Therapeutics, Inc. has a 52-week low of $158.38 and a 52-week high of $329.99. The stock has a fifty day simple moving average of $325.43 and a 200-day simple moving average of $270.33.

Karuna Therapeutics (NASDAQ:KRTX) last released 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). The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period last year, the business earned ($2.22) earnings per share. As a group, equities analysts anticipate that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current year.

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.