Monashee Investment Management LLC acquired a new stake in Karuna Therapeutics (NASDAQ:KRTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 110,000 shares of the company’s stock, valued at approximately $2,202,000. Monashee Investment Management LLC owned about 0.49% of Karuna Therapeutics at the end of the most recent reporting period.
Separately, JPMorgan Chase & Co. purchased a new stake in shares of Karuna Therapeutics in the second quarter worth approximately $542,000. Institutional investors and hedge funds own 19.29% of the company’s stock.
Several brokerages have recently weighed in on KRTX. Wells Fargo & Co began coverage on Karuna Therapeutics in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price target on the stock. Citigroup began coverage on Karuna Therapeutics in a report on Tuesday, July 23rd. They issued a “buy” rating and a $28.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Karuna Therapeutics in a report on Friday, August 9th. Finally, Goldman Sachs Group began coverage on Karuna Therapeutics in a report on Tuesday, July 23rd. They issued a “buy” rating and a $34.00 price target on the stock.
Shares of NASDAQ KRTX traded down $0.87 during midday trading on Tuesday, hitting $19.59. The company’s stock had a trading volume of 1,460 shares, compared to its average volume of 78,139. The business’s 50 day moving average price is $20.40. Karuna Therapeutics has a 12-month low of $16.95 and a 12-month high of $29.00.
Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($146.02) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($144.83). Research analysts expect that Karuna Therapeutics will post -2.48 EPS for the current 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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