New York State Common Retirement Fund Sells 4,694 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX)

New York State Common Retirement Fund reduced its position in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,089 shares of the company’s stock after selling 4,694 shares during the quarter. New York State Common Retirement Fund owned approximately 0.25% of Karuna Therapeutics worth $29,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of KRTX. Rhenman & Partners Asset Management AB boosted its position in shares of Karuna Therapeutics by 734.3% in the third quarter. Rhenman & Partners Asset Management AB now owns 292,000 shares of the company’s stock worth $49,374,000 after purchasing an additional 257,000 shares during the period. SG Americas Securities LLC boosted its position in shares of Karuna Therapeutics by 2,482.6% in the fourth quarter. SG Americas Securities LLC now owns 174,193 shares of the company’s stock worth $55,134,000 after purchasing an additional 167,448 shares during the period. Vanguard Group Inc. boosted its position in shares of Karuna Therapeutics by 3.4% in the third quarter. Vanguard Group Inc. now owns 3,203,585 shares of the company’s stock worth $541,694,000 after purchasing an additional 105,686 shares during the period. TD Asset Management Inc boosted its position in shares of Karuna Therapeutics by 53.4% in the third quarter. TD Asset Management Inc now owns 227,718 shares of the company’s stock worth $38,505,000 after purchasing an additional 79,291 shares during the period. Finally, Catalyst Private Wealth LLC boosted its position in shares of Karuna Therapeutics by 256.5% in the fourth quarter. Catalyst Private Wealth LLC now owns 77,855 shares of the company’s stock worth $24,642,000 after purchasing an additional 56,018 shares during the period.

Analyst Upgrades and Downgrades

KRTX has been the subject of a number of research reports. HC Wainwright restated a “neutral” rating and set a $330.00 target price on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Mizuho restated a “neutral” rating and set a $330.00 target price (up previously from $245.00) on shares of Karuna Therapeutics in a research report on Friday, January 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $330.00 target price (up previously from $217.00) on shares of Karuna Therapeutics in a research report on Thursday, December 28th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Karuna Therapeutics presently has an average rating of “Hold” and a consensus price target of $293.92.

Insider Buying and Selling

In related news, insider Stephen K. Brannan sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $318.34, for a total value of $1,591,700.00. Following the transaction, the insider now owns 42,604 shares of the company’s stock, valued at approximately $13,562,557.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 13.20% of the stock is currently owned by insiders.

Karuna Therapeutics Stock Performance

Shares of KRTX opened at $329.83 on Friday. Karuna Therapeutics, Inc. has a twelve month low of $158.38 and a twelve month high of $329.99. The company has a market cap of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. The company’s fifty day simple moving average is $325.43 and its 200-day simple moving average is $270.33.

Karuna Therapeutics (NASDAQ:KRTX) last announced its earnings results 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 last year, the firm earned ($2.22) EPS. The company’s quarterly revenue was down 100.0% on a year-over-year basis. Analysts predict that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current fiscal year.

About Karuna Therapeutics

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.