Price T Rowe Associates Inc. MD Acquires Shares of 453,374 Karuna Therapeutics (NASDAQ:KRTX)

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Price T Rowe Associates Inc. MD acquired a new stake in Karuna Therapeutics (NASDAQ:KRTX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 453,374 shares of the company’s stock, valued at approximately $9,077,000. Price T Rowe Associates Inc. MD owned about 1.94% of Karuna Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Sofinnova Investments Inc. bought a new position in Karuna Therapeutics in the 2nd quarter valued at $34,622,000. Rock Springs Capital Management LP purchased a new stake in shares of Karuna Therapeutics in the 2nd quarter worth $8,278,000. Vivo Capital LLC purchased a new stake in shares of Karuna Therapeutics in the 2nd quarter worth $6,507,000. Citadel Advisors LLC purchased a new stake in shares of Karuna Therapeutics in the 2nd quarter worth $2,522,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Karuna Therapeutics in the 2nd quarter worth $2,202,000. 36.98% of the stock is currently owned by institutional investors.

Shares of NASDAQ KRTX opened at $14.47 on Wednesday. Karuna Therapeutics has a 1-year low of $12.78 and a 1-year high of $29.00. The stock’s fifty day moving average is $17.65.

Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($146.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($144.83). As a group, analysts anticipate that Karuna Therapeutics will post -2.48 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on KRTX shares. Citigroup started coverage on Karuna Therapeutics in a report on Tuesday, July 23rd. They issued a “buy” rating and a $28.00 target price for the company. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Karuna Therapeutics in a report on Friday, August 9th. Wells Fargo & Co started coverage on Karuna Therapeutics in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 target price for the company. Goldman Sachs Group started coverage on Karuna Therapeutics in a report on Tuesday, July 23rd. They issued a “buy” rating and a $34.00 target price for the company. Finally, Zacks Investment Research upgraded Karuna Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a buy rating, Karuna Therapeutics currently has a consensus rating of “Buy” and an average price target of $29.60.

Karuna Therapeutics Company 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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