Geode Capital Management LLC Boosts Holdings in Karuna Therapeutics (NASDAQ:KRTX)

Geode Capital Management LLC grew its position in shares of Karuna Therapeutics (NASDAQ:KRTX) by 91.7% in the first quarter, Holdings Channel reports. The institutional investor owned 170,220 shares of the company’s stock after buying an additional 81,418 shares during the period. Geode Capital Management LLC’s holdings in Karuna Therapeutics were worth $12,255,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in KRTX. Ameritas Investment Partners Inc. boosted its holdings in shares of Karuna Therapeutics by 139.5% in the first quarter. Ameritas Investment Partners Inc. now owns 910 shares of the company’s stock valued at $66,000 after acquiring an additional 530 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Karuna Therapeutics by 172.5% in the 1st quarter. US Bancorp DE now owns 1,049 shares of the company’s stock valued at $76,000 after buying an additional 664 shares during the period. Legal & General Group Plc boosted its stake in shares of Karuna Therapeutics by 86.7% in the first quarter. Legal & General Group Plc now owns 1,630 shares of the company’s stock valued at $117,000 after buying an additional 757 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Karuna Therapeutics by 100.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,028 shares of the company’s stock worth $192,000 after acquiring an additional 1,014 shares during the period. Finally, Strs Ohio raised its position in Karuna Therapeutics by 125.0% in the first quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $194,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 63.87% of the company’s stock.

In other news, major shareholder Puretech Health Llc sold 555,500 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $81.03, for a total value of $45,012,165.00. Following the completion of the transaction, the insider now owns 4,745,397 shares of the company’s stock, valued at $384,519,518.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Steven M. Paul sold 292,207 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $103.50, for a total transaction of $30,243,424.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 989,996 shares of company stock worth $87,815,106. Corporate insiders own 18.10% of the company’s stock.

KRTX has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Karuna Therapeutics from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Zacks Investment Research lowered shares of Karuna Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Oppenheimer increased their target price on shares of Karuna Therapeutics from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating and set a $140.00 price target on shares of Karuna Therapeutics in a research note on Wednesday, June 24th. Finally, Guggenheim started coverage on Karuna Therapeutics in a research note on Tuesday, March 31st. They issued a “buy” rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $109.58.

Shares of KRTX opened at $106.26 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 145.80 and a quick ratio of 145.80. Karuna Therapeutics has a 1-year low of $11.24 and a 1-year high of $152.00. The stock has a market cap of $2.78 billion and a price-to-earnings ratio of -0.72. The firm has a 50 day simple moving average of $92.94 and a 200-day simple moving average of $84.77.

Karuna Therapeutics (NASDAQ:KRTX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. On average, equities analysts expect that Karuna Therapeutics will post -1.97 earnings per share for the current fiscal year.

Karuna Therapeutics Profile

Karuna Therapeutics, Inc, a clinical-stage biopharmaceutical company, primarily focuses on developing novel therapies to address disabling neuropsychiatric conditions characterized by significant unmet medical needs. The company's lead product candidate is KarXT, an oral modulator that is in Phase II clinical trial for the treatment of acute psychosis in patients with schizophrenia, as well as in Phase Ib clinical trial for the treatment of central nervous system disorders, such as cognitive and negative symptoms, Alzheimer's, and pain.

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Institutional Ownership by Quarter for Karuna Therapeutics (NASDAQ:KRTX)

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