BCK Capital Management LP Buys New Stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

BCK Capital Management LP bought a new stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,000 shares of the company’s stock, valued at approximately $950,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Karuna Therapeutics by 429.2% in the 4th quarter. Russell Investments Group Ltd. now owns 127 shares of the company’s stock worth $40,000 after purchasing an additional 103 shares during the last quarter. Signaturefd LLC grew its position in Karuna Therapeutics by 266.7% in 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. Lindbrook Capital LLC grew its position in Karuna Therapeutics by 105.2% in the 4th quarter. Lindbrook Capital LLC now owns 238 shares of the company’s stock worth $75,000 after purchasing an additional 122 shares during the last quarter. CWM LLC grew its position in Karuna Therapeutics by 75.5% in the 4th quarter. CWM LLC now owns 272 shares of the company’s stock worth $86,000 after purchasing an additional 117 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Karuna Therapeutics in the 4th quarter worth $127,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KRTX. Mizuho restated a “neutral” rating and issued a $330.00 price target (up from $245.00) on shares of Karuna Therapeutics in a research report on Friday, January 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $330.00 price objective on shares of Karuna Therapeutics in a report on Tuesday, February 20th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $330.00 price objective on shares of Karuna Therapeutics in a report on Thursday, March 14th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Karuna Therapeutics has a consensus rating of “Hold” and an average target price of $293.92.

Insider Transactions 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 stock was sold at an average price of $318.34, for a total transaction of $1,591,700.00. Following the sale, the insider now directly owns 42,604 shares in the company, valued at $13,562,557.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.20% of the company’s stock.

Karuna Therapeutics Stock Performance

KRTX stock remained flat at $329.83 during trading on Monday. 5 shares of the company traded hands, compared to its average volume of 832,048. The stock has a 50 day moving average of $326.73 and a 200 day moving average of $278.20. Karuna Therapeutics, Inc. has a 12-month low of $158.38 and a 12-month high of $329.99. The stock has a market cap of $12.58 billion, a PE 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) EPS for the quarter, missing the consensus estimate of ($2.65) by ($0.36). The firm’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.22) EPS. As a group, research analysts forecast that Karuna Therapeutics, Inc. will post -11.96 EPS 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.