Karuna Therapeutics, Inc. (NASDAQ:KRTX) COO Andrew Craig Miller sold 8,333 shares of the business’s stock in a transaction on Friday, June 11th. The shares were sold at an average price of $129.33, for a total transaction of $1,077,706.89. Following the sale, the chief operating officer now owns 58,833 shares of the company’s stock, valued at approximately $7,608,871.89. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Andrew Craig Miller also recently made the following trade(s):
- On Monday, June 14th, Andrew Craig Miller sold 8,334 shares of Karuna Therapeutics stock. The stock was sold at an average price of $131.44, for a total transaction of $1,095,420.96.
- On Monday, May 10th, Andrew Craig Miller sold 5,000 shares of Karuna Therapeutics stock. The stock was sold at an average price of $110.43, for a total transaction of $552,150.00.
- On Monday, April 12th, Andrew Craig Miller sold 5,000 shares of Karuna Therapeutics stock. The shares were sold at an average price of $114.22, for a total transaction of $571,100.00.
Karuna Therapeutics stock traded down $1.82 during mid-day trading on Tuesday, hitting $127.60. The company’s stock had a trading volume of 2,085 shares, compared to its average volume of 134,425. Karuna Therapeutics, Inc. has a one year low of $69.58 and a one year high of $146.97. The company has a 50 day simple moving average of $114.46.
Karuna Therapeutics (NASDAQ:KRTX) last issued its quarterly earnings data on Thursday, May 6th. The company reported ($1.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.04. On average, equities analysts anticipate that Karuna Therapeutics, Inc. will post -5.94 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. First Mercantile Trust Co. acquired a new stake in Karuna Therapeutics during the first quarter worth about $43,000. Penserra Capital Management LLC grew its holdings in Karuna Therapeutics by 171.9% in the fourth quarter. Penserra Capital Management LLC now owns 620 shares of the company’s stock valued at $62,000 after purchasing an additional 392 shares during the period. FORA Capital LLC purchased a new position in shares of Karuna Therapeutics in the first quarter valued at approximately $67,000. Royal Bank of Canada lifted its position in shares of Karuna Therapeutics by 501.8% in the first quarter. Royal Bank of Canada now owns 1,023 shares of the company’s stock valued at $123,000 after acquiring an additional 853 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in Karuna Therapeutics by 10.5% during the first quarter. IFP Advisors Inc now owns 1,039 shares of the company’s stock worth $127,000 after buying an additional 99 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of Karuna Therapeutics from $192.00 to $171.00 and set a “buy” rating on the stock in a report on Friday, May 7th. Zacks Investment Research upgraded shares of Karuna Therapeutics from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, May 5th. Mizuho increased their price target on shares of Karuna Therapeutics from $116.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 4th. Maxim Group restated a “buy” rating on shares of Karuna Therapeutics in a report on Friday, February 26th. Finally, Bank of America initiated coverage on Karuna Therapeutics in a research note on Monday, March 22nd. They issued a “buy” rating and a $150.00 price target for the company. Ten analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $153.44.
About Karuna Therapeutics
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 is KarXT, an oral modulator of muscarinic receptors that has completed Phase II clinical trial for the treatment of acute psychosis in patients with schizophrenia; and in Phase Ib clinical trial 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 dementia-related psychosis.
See Also: Systematic Risk and Investors
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is the definition of a trade war?
A cyclical stock is one that produces returns that are influenced by macroeconomic or systematic changes in the broader economy. In strong economic times, these stocks show generally strong growth because they are influenced by discretionary consumer spending. Of course, that means the opposite is true as well. When the economy is weak, these stocks may pull back further than other stocks.
Cyclical stocks cover many sectors, but travel and entertainment stocks come to mind. Airlines, hotels, and restaurants are all examples of cyclical sectors that do well during times of economic growth but are among the first to pull back in recessionary times.
Why do cyclical stocks deserve a place in an investor’s portfolio? Believe it or not, it’s for the relative predictability that they provide. Investors may enjoy speculating in growth stocks, but these are prone to bubbles. This isn’t to say that cyclical stocks are not volatile, but they offer price movement that is a bit more predictable.
In this special presentation, we’re looking at cyclical stocks that are looking strong as we come out of the pandemic. And some of these stocks held up well during the pandemic which means they’re starting from a stronger base.