China Universal Asset Management Co. Ltd. Buys 3,392 Shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX)

China Universal Asset Management Co. Ltd. boosted its stake in shares of Karuna Therapeutics, Inc. (NASDAQ:KRTX - Free Report) by 349.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,363 shares of the company's stock after buying an additional 3,392 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Karuna Therapeutics were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Karuna Therapeutics in the fourth quarter valued at about $222,000. SG Americas Securities LLC lifted its holdings 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 valued at $55,134,000 after purchasing an additional 167,448 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Karuna Therapeutics in the fourth quarter valued at about $582,000. Catalyst Private Wealth LLC lifted its holdings 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 valued at $24,642,000 after purchasing an additional 56,018 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 valued at $541,694,000 after purchasing an additional 105,686 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $330.00 price objective on shares of Karuna Therapeutics in a research note on Tuesday, February 20th. JMP Securities reissued a "market perform" rating on shares of Karuna Therapeutics in a research note on Friday, December 22nd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $330.00 price objective (up previously from $217.00) on shares of Karuna Therapeutics in a research note on Thursday, December 28th. Leerink Partnrs downgraded shares of Karuna Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, December 22nd. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $330.00 price target (up previously from $295.00) on shares of Karuna Therapeutics in a research report on Friday, December 22nd. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Karuna Therapeutics has a consensus rating of "Hold" and a consensus price target of $293.92.

Karuna Therapeutics Price Performance

Shares of Karuna Therapeutics stock remained flat at $329.83 during trading hours on Thursday. 5 shares of the stock traded hands, compared to its average volume of 832,048. Karuna Therapeutics, Inc. has a 52 week low of $158.38 and a 52 week high of $329.99. The firm has a fifty day moving average price of $321.29 and a two-hundred day moving average price of $253.55. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($3.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.65) by ($0.36). During the same period in the prior year, the business earned ($2.22) EPS. The business's revenue was down 100.0% compared to the same quarter last year. Analysts anticipate that Karuna Therapeutics, Inc. will post -11.96 EPS for the current year.

Insider Activity at Karuna Therapeutics

In related news, insider Stephen K. Brannan sold 5,000 shares of the firm's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $316.13, for a total transaction of $1,580,650.00. Following the completion of the sale, the insider now directly owns 41,150 shares of the company's stock, valued at approximately $13,008,749.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $316.13, for a total transaction of $1,580,650.00. Following the transaction, the insider now directly owns 41,150 shares in the company, valued at approximately $13,008,749.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen K. Brannan sold 15,000 shares of the firm's stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $316.81, for a total transaction of $4,752,150.00. Following the completion of the transaction, the insider now owns 38,650 shares in the company, valued at $12,244,706.50. The disclosure for this sale can be found here. In the last three months, insiders sold 25,000 shares of company stock valued at $7,924,500. Corporate insiders own 13.20% of the company's stock.

Karuna Therapeutics Company 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.