Headlands Technologies LLC Takes $374,000 Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Headlands Technologies LLC bought a new stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,182 shares of the company’s stock, valued at approximately $374,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Karuna Therapeutics by 349.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,363 shares of the company’s stock valued at $1,381,000 after purchasing an additional 3,392 shares during the period. SG Americas Securities LLC boosted its stake in shares of Karuna Therapeutics by 598.2% in the third quarter. SG Americas Securities LLC now owns 6,745 shares of the company’s stock valued at $1,141,000 after purchasing an additional 5,779 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Karuna Therapeutics in the third quarter valued at $2,029,000. New York Life Investment Management LLC boosted its stake in shares of Karuna Therapeutics by 140.1% in the third quarter. New York Life Investment Management LLC now owns 3,788 shares of the company’s stock valued at $641,000 after purchasing an additional 2,210 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Karuna Therapeutics by 16.4% in the third quarter. Deutsche Bank AG now owns 51,584 shares of the company’s stock valued at $8,722,000 after purchasing an additional 7,282 shares during the period.

Karuna Therapeutics Stock Performance

Karuna Therapeutics stock opened at $329.83 on Friday. The firm’s 50-day moving average is $325.66 and its 200-day moving average is $272.08. Karuna Therapeutics, Inc. has a 1 year low of $158.38 and a 1 year 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.

Karuna Therapeutics (NASDAQ:KRTX) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($3.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.65) by ($0.36). During the same period in the prior year, the company posted ($2.22) EPS. Karuna Therapeutics’s revenue was down 100.0% on a year-over-year basis. As a group, sell-side analysts predict that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current year.

Insider Transactions at Karuna Therapeutics

In related news, insider Stephen K. Brannan sold 5,000 shares of the 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 sale, 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Karuna Therapeutics 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.