State of New Jersey Common Pension Fund D Has $6.56 Million Stock Position in Karuna Therapeutics, Inc. (NASDAQ:KRTX)

State of New Jersey Common Pension Fund D lifted its stake in Karuna Therapeutics, Inc. (NASDAQ:KRTX) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,720 shares of the company’s stock after buying an additional 1,872 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Karuna Therapeutics were worth $6,558,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its position in Karuna Therapeutics by 266.7% in the 3rd quarter. Signaturefd LLC now owns 275 shares of the company’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. Lindbrook Capital LLC raised its stake in Karuna Therapeutics by 105.2% during the 4th quarter. Lindbrook Capital LLC now owns 238 shares of the company’s stock worth $75,000 after buying an additional 122 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Karuna Therapeutics by 34.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 452 shares of the company’s stock valued at $76,000 after purchasing an additional 116 shares during the period. CWM LLC raised its stake in shares of Karuna Therapeutics by 75.5% in the 4th quarter. CWM LLC now owns 272 shares of the company’s stock valued at $86,000 after purchasing an additional 117 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Karuna Therapeutics in the 4th quarter valued at about $127,000.

Karuna Therapeutics Stock Performance

Shares of NASDAQ KRTX remained flat at $329.83 during midday trading on Friday. 5 shares of the stock traded hands, compared to its average volume of 832,048. The stock has a market cap of $12.58 billion, a P/E ratio of -28.14 and a beta of 1.18. The firm’s 50 day moving average is $325.66 and its 200 day moving average is $271.41. Karuna Therapeutics, Inc. has a 52-week low of $158.38 and a 52-week high of $329.99.

Karuna Therapeutics (NASDAQ:KRTX) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($3.01) earnings per share for the quarter, missing the consensus estimate of ($2.65) by ($0.36). The firm’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the company posted ($2.22) EPS. Sell-side analysts expect that Karuna Therapeutics, Inc. will post -11.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KRTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $330.00 price target (up previously from $217.00) on shares of Karuna Therapeutics in a report on Thursday, December 28th. HC Wainwright reiterated a “neutral” rating and issued a $330.00 price target on shares of Karuna Therapeutics in a research report on Thursday, March 14th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $330.00 price target on shares of Karuna Therapeutics in a research report on Tuesday, February 20th. Finally, Mizuho reiterated a “neutral” rating and set a $330.00 price target (up from $245.00) on shares of Karuna Therapeutics in a report on Friday, January 26th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $293.92.

Insider Activity at Karuna Therapeutics

In other Karuna Therapeutics news, insider Stephen K. Brannan sold 5,000 shares of Karuna Therapeutics stock in a transaction on Friday, March 8th. The shares were sold at an average price of $318.34, for a total value of $1,591,700.00. Following the completion of the transaction, the insider now directly owns 42,604 shares of the company’s stock, valued at approximately $13,562,557.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.20% of the stock is currently owned by corporate insiders.

Karuna Therapeutics 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.