O Shaughnessy Asset Management LLC bought a new stake in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 546 shares of the company’s stock, valued at approximately $62,000.
Other institutional investors also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC increased its stake in Karuna Therapeutics by 296.5% during the 1st quarter. Rafferty Asset Management LLC now owns 27,894 shares of the company’s stock valued at $3,354,000 after buying an additional 20,859 shares during the period. Lord Abbett & CO. LLC increased its stake in Karuna Therapeutics by 13.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 313,561 shares of the company’s stock valued at $37,699,000 after buying an additional 37,834 shares during the period. Alliancebernstein L.P. increased its stake in Karuna Therapeutics by 11.4% during the 2nd quarter. Alliancebernstein L.P. now owns 46,394 shares of the company’s stock valued at $5,288,000 after buying an additional 4,730 shares during the period. Swiss National Bank increased its stake in Karuna Therapeutics by 1.8% during the 1st quarter. Swiss National Bank now owns 27,600 shares of the company’s stock valued at $3,318,000 after buying an additional 500 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Karuna Therapeutics during the 1st quarter valued at about $224,000. 85.87% of the stock is currently owned by hedge funds and other institutional investors.
Karuna Therapeutics stock opened at $122.25 on Friday. The firm’s 50 day simple moving average is $114.25 and its 200-day simple moving average is $116.26. The company has a market cap of $3.61 billion, a P/E ratio of -31.59 and a beta of 1.80. Karuna Therapeutics, Inc. has a fifty-two week low of $74.06 and a fifty-two week high of $146.97.
Several brokerages have recently issued reports on KRTX. Jefferies Financial Group began coverage on shares of Karuna Therapeutics in a research note on Wednesday, July 28th. They issued a “buy” rating and a $158.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Karuna Therapeutics from $164.00 to $173.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 23rd. They noted that the move was a valuation call. Finally, Citigroup assumed coverage on shares of Karuna Therapeutics in a research note on Monday, August 30th. They issued a “buy” rating and a $152.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $154.91.
In related news, CEO Steven M. Paul purchased 1,183 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The stock was acquired at an average cost of $105.63 per share, for a total transaction of $124,960.29. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Healy purchased 636 shares of the firm’s stock in a transaction that occurred on Friday, July 2nd. The shares were bought at an average price of $117.80 per share, with a total value of $74,920.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 16,000 shares of company stock valued at $1,803,175. 18.10% of the stock is currently owned by corporate insiders.
Karuna Therapeutics Profile
Karuna Therapeutics, Inc operates as a clinical-stage biopharmaceutical company, which engages in business of research and development of therapies utilizing muscarinic cholinergic receptors to treat psychosis and cognitive impairment in numerous central nervous system disorders. The company was founded by Andrew Miller, Eric Elenko, and Peter Jeffrey Conn in July 2009 and is headquartered in Boston, MA.
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