Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

Posted by Defense World Staff on May 26th, 2023

Mirae Asset Global Investments Co. Ltd. grew its holdings in Karuna Therapeutics, Inc. (NASDAQ:KRTX – Get Rating) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,470 shares of the company’s stock after acquiring an additional 1,235 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Karuna Therapeutics were worth $2,843,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. raised its stake in shares of Karuna Therapeutics by 56.7% in the 4th quarter. Victory Capital Management Inc. now owns 4,522 shares of the company’s stock valued at $902,000 after acquiring an additional 1,637 shares during the period. Dimensional Fund Advisors LP grew its holdings in Karuna Therapeutics by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 131,828 shares of the company’s stock valued at $25,905,000 after purchasing an additional 10,963 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Karuna Therapeutics by 39.5% during the 4th quarter. Principal Financial Group Inc. now owns 10,912 shares of the company’s stock valued at $2,144,000 after purchasing an additional 3,089 shares in the last quarter. UBS Group AG grew its holdings in Karuna Therapeutics by 91.9% during the 4th quarter. UBS Group AG now owns 24,377 shares of the company’s stock valued at $4,790,000 after purchasing an additional 11,672 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in Karuna Therapeutics by 60.1% during the 4th quarter. Fiera Capital Corp now owns 162,726 shares of the company’s stock valued at $31,976,000 after purchasing an additional 61,086 shares in the last quarter.

Insider Activity

In related news, CFO Troy A. Ignelzi sold 9,000 shares of Karuna Therapeutics stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $223.41, for a total value of $2,010,690.00. Following the sale, the chief financial officer now directly owns 30,487 shares in the company, valued at approximately $6,811,100.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Troy A. Ignelzi sold 9,000 shares of Karuna Therapeutics stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $223.41, for a total value of $2,010,690.00. Following the sale, the chief financial officer now directly owns 30,487 shares in the company, valued at approximately $6,811,100.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $189.51, for a total transaction of $947,550.00. Following the completion of the sale, the insider now owns 23,650 shares in the company, valued at $4,481,911.50. The disclosure for this sale can be found here. In the last three months, insiders sold 65,000 shares of company stock valued at $13,030,410. Company insiders own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRTX. Cantor Fitzgerald began coverage on shares of Karuna Therapeutics in a report on Tuesday, March 7th. They set a “neutral” rating and a $214.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $323.00 price target on shares of Karuna Therapeutics in a report on Tuesday, March 21st. UBS Group began coverage on shares of Karuna Therapeutics in a report on Friday, January 27th. They set a “neutral” rating and a $209.00 price target for the company. Wedbush reaffirmed an “outperform” rating on shares of Karuna Therapeutics in a report on Tuesday, March 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Karuna Therapeutics from $262.00 to $257.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.13.

Karuna Therapeutics Stock Down 2.0 %

NASDAQ KRTX opened at $219.81 on Friday. Karuna Therapeutics, Inc. has a one year low of $93.47 and a one year high of $278.25. The company has a 50-day simple moving average of $198.39 and a 200-day simple moving average of $201.10.

Karuna Therapeutics (NASDAQ:KRTX – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($2.86) by $0.06. Karuna Therapeutics had a negative net margin of 2,795.96% and a negative return on equity of 30.04%. The business had revenue of $0.65 million during the quarter. During the same period last year, the firm posted ($1.95) earnings per share. As a group, equities analysts anticipate that Karuna Therapeutics, Inc. will post -11.67 earnings per share for the current year.

Karuna Therapeutics Company Profile

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Karuna Therapeutics, Inc operates as a clinical-stage biopharmaceutical company. engages in business of research and development of therapies utilizing muscarinic cholinergic receptors to treat psychosis and cognitive impairment in numerous central nervous system disorders. The company was founded by Andrew Miller, Eric Elenko, and Peter Jeffrey Conn in July 2009 and is headquartered in Boston, MA.

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

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