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Insider Sells $987,600.00 in Karuna Therapeutics, Inc. (NASDAQ:KRTX) Stock

Insider Sells $987,600.00 in Karuna Therapeutics, Inc. (NASDAQ:KRTX) Stock

On January 9, an insider named Stephen K. Brannan was responsible for selling 5,000 shares of Karuna Therapeutics, Inc. (NASDAQ: KRTX) stock. With a price of $197.52 per share on average, a total of $987,600.00 worth of the stock was traded, resulting in revenue for the company. Following the successful transaction completion, the company insider now directly owns 15,000 shares of the company’s stock. The total value of these shares is approximately $2,962,800. When you click on this link, you will be taken to a document given to the SEC. This document contains information about the transaction and the presentation given to the SEC.
On November 3, the most recent earnings report for Karuna Therapeutics was made public. Karuna Therapeutics is a company that trades on the NASDAQ under the symbol KRTX. The company announced that its earnings per share (EPS) for the quarter came in at $2.38, which was $0.39 less than market analysts had anticipated ($1.99). Compared to the revenue projections of $10 million that industry professionals made for the quarter, the company only made $0.08 million in revenues during the period in question. The majority opinion held by market analysts is that Karuna Therapeutics, Inc. will finish the current fiscal year with a loss of $8.78 per share.
Over the past few months, many brokerage firms have expressed interest in KRTX. Karuna Therapeutics was first mentioned in a research report released by Loop Capital on November 1st. This marked the beginning of the firm’s coverage of the company. They suggested investing in the company’s stock and setting a price objective of $288.00 per share. In the research report just released this past Thursday by Piper Sandler, Karuna Therapeutics was mentioned for the first time. They gave the stock the rating of “overweight” and concluded that $285.00 is a reasonable target. In a research note published on Friday, December 9th, Mizuho lowered their “buy” rating, which they had previously assigned to Karuna Therapeutics, and their target price, which they had previously established, at $276.00. The price target for Karuna Therapeutics was lowered by Wells Fargo & Company in a research report published on Friday, November 4th. The new price target is $262.00, which decreases from the previous price target of $264.00.
Additionally, the firm rated the company’s stock as “overweight,” indicating that they believe it will continue to rise. Stifel Nicolaus raised their target price for Karuna Therapeutics from $260.00 to $295.00 and upgraded the company from a “hold” rating to a “buy” rating in a research report published on Tuesday, September 13th. The report was released on the same day. Fifteen research experts have evaluated the stock, concluding that investors should purchase it. According to information provided by Bloomberg, the average rating for the stock right now is “buy,” and the consensus price target that analysts have established for the share price is $260.69.
The price of NASDAQ: KRTX fell to $190.51 at the end of trading on Monday, representing an $8.55 decrease from the previous day’s closing price. The volume of shares traded by the company was significantly higher than its usual level of 249,736 shares, coming in at 300,282. The company’s price-to-earnings ratio is -25.59, and its beta value is 1.25. The company is currently valued at $6.55 billion on the market. The moving average of the stock’s price over the previous 200 days is $204.04; over the most recent 50 days, it has been $212.82. Karuna Therapeutics, Inc. hit a low point over the past year of operations of $92.26 per share, while the company reached a 52-week high of $278.25 per share.
Recently, several institutional investors have modified the processes by which they invest their money in the company in various ways. During the second quarter, Nisa Investment Advisors LLC completed an 11.7% increase in the amount of Karuna Therapeutics stock that was held in its portfolio. Following the acquisition of an additional 80 shares during the most recent quarter, Nisa Investment Advisors LLC now holds 766 shares of the company’s stock, valued at $97,000. This brings the firm’s total holdings to. The percentage of Karuna Therapeutics stock that Cambridge Investment Research Advisors Inc. owned increased by 5.1% over the first three months of 2018. Cambridge Investment Research Advisors Inc. now holds 2,172 shares of the company’s stock, which have a combined value of $275,000 due to the purchase of 105 additional shares during the most recent fiscal quarter. In addition, the Metropolitan Life Insurance Company of New York increased the amount of Karuna Therapeutics stock that is owned by 11.7% during the third quarter. The Metropolitan Life Insurance Company of New York now has 1,771 shares, thanks to the acquisition of 185 additional shares during the most recent fiscal quarter. The total value of these shares is currently estimated to be $398,000. In addition, Almanac Investment Partners LLC invested $51,000 in Karuna Therapeutics during the third quarter of 2018. Last but certainly not least, Strs Ohio increased the percentage of Karuna Therapeutics stock owned by 7.0% during the second quarter. This certainly should not be considered the least important development. Strs Ohio now has 4,600 shares in the company, which have a value of $581,000 thanks to purchasing an additional 300 shares during the most recent fiscal quarter.
Karuna Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing and marketing novel medications for neurological and behavioral disease patients. Their target demographic includes people who have limited treatment options. For example, oral muscarinic receptor modulator KarXT, also known as KarXT, is currently taking part in Phase III clinical research to treat diseases that affect the central nervous system. These conditions include schizophrenia, psychosis, and dementia-related psychosis, as well as the negative and cognitive symptoms of both schizophrenia and psychosis.

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