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

BCK Capital Management LP purchased a new stake in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,000 shares of the company’s stock, valued at approximately $950,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KRTX. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Karuna Therapeutics by 5.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,152 shares of the company’s stock valued at $195,000 after purchasing an additional 62 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Karuna Therapeutics by 2.1% in the 3rd quarter. Jump Financial LLC now owns 3,205 shares of the company’s stock valued at $542,000 after purchasing an additional 65 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Karuna Therapeutics by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 15,620 shares of the company’s stock valued at $2,641,000 after purchasing an additional 80 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Karuna Therapeutics by 429.2% in the fourth quarter. Russell Investments Group Ltd. now owns 127 shares of the company’s stock worth $40,000 after buying an additional 103 shares during the period. Finally, CWM LLC raised its holdings in shares of Karuna Therapeutics by 75.5% in the fourth quarter. CWM LLC now owns 272 shares of the company’s stock worth $86,000 after buying an additional 117 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KRTX shares. Mizuho reissued a “neutral” rating and issued a $330.00 price objective (up previously from $245.00) on shares of Karuna Therapeutics in a research report on Friday, January 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $330.00 price objective on shares of Karuna Therapeutics in a research report on Tuesday, February 20th. Finally, HC Wainwright reissued a “neutral” rating and issued a $330.00 price objective on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $293.92.

Insiders Place Their Bets

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 through this link. 13.20% of the stock is owned by company insiders.

Karuna Therapeutics Price Performance

Shares of Karuna Therapeutics stock remained flat at $329.83 on Monday. The company had a trading volume of 5 shares, compared to its average volume of 832,048. Karuna Therapeutics, Inc. has a 1 year low of $158.38 and a 1 year high of $329.99. The firm’s 50-day moving average is $326.73 and its two-hundred day moving average is $278.20. The firm has a market cap of $12.58 billion, a P/E 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 the consensus estimate of ($2.65) by ($0.36). During the same quarter in the previous year, the firm posted ($2.22) earnings per share. The business’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, equities analysts forecast 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.