Insider Selling: Ignelzi Troy A., Karuna Therapeutics Inc. [KRTX] Chief Financial Officer divested 16,500 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Karuna Therapeutics Inc. shares valued at $3,759,195 were sold by Ignelzi Troy A. on Aug 09. At $227.83 per share, Ignelzi Troy A. sold 16,500 shares. The insider’s holdings dropped to 24,970 shares worth approximately $6.52 million following the completion of this transaction.


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Also, Brannan Stephen K. sold 25,000 shares, netting a total of over 5,702,098 in proceeds. Following the sale of shares at $228.08 each, the insider now holds 15,000 shares.

Before that, Brannan Stephen K. had sold 15,000 shares from its account. In a trade valued at $1,999,350, the Chief Medical Officer traded Karuna Therapeutics Inc. shares for $133.29 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $3.92 million.

As published in their initiating research note from SVB Leerink on July 14, 2022, Karuna Therapeutics Inc. [KRTX] has been an Outperform and the price target has been revised to $170. This represents a -53.71% premium over Thursday’s closing price. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in late March. As of January 24, 2022, Wedbush has reiterated its “an Outperform” rating for KRTX. Earlier on September 30, 2021, JP Morgan initiated its rating. Their recommendation was “an Overweight” for KRTX stock.

Analyzing KRTX’s Price Performance

On Thursday, Karuna Therapeutics Inc. [NASDAQ: KRTX] rose 0.93% to $261.31. The stock’s lowest price that day was $250.352, but it reached a high of $264.06 in the same session. During the last five days, there has been a surge of approximately 94.43%. Over the course of the year, Karuna Therapeutics Inc. shares have jumped approximately 99.47%. Shares of the company reached a 52-week high of $264.06 on 08/11/22 and a 52-week low of $92.26 on 05/12/22. A 50-day SMA is recorded $130.92, while a 200-day SMA reached $122.64. Nevertheless, trading volume fell to 1.14 million shares from 1.86 million shares the previous day.

Support And Resistance Levels for Karuna Therapeutics Inc. (KRTX)

According to the 24-hour chart, there is a support level at 253.09, which, if violated, would cause prices to drop to 244.87. In the upper region, resistance lies at 266.80. The next price resistance is at 272.28. RSI (Relative Strength Index) is 84.54 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 86.03, which suggests the price will increase in the coming days. Percent R is at 1.94%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Karuna Therapeutics Inc. subject to short interest?

Stocks of Karuna Therapeutics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.23 million shares to 1.42 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.19 million shares. A jump of 16.2% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.85 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.85.

Which companies own the most shares of Karuna Therapeutics Inc. (KRTX)?

According to Fidelity Management & Research Co filings, the company currently owns 4,559,081 shares, which is about 15.26% of the total KRTX shares outstanding. The investor’s shares have appreciated by 5,175 from its previous 13-F filing of 4553906.0 shares. With the completion of the buy transaction, T. Rowe Price Associates, Inc.’s stake is now worth $267,092,213. The Vanguard Group, Inc. acquire a 1.89% interest valued at $260.92 million while BlackRock Fund Advisors sold a -6,383 stake. A total of 187,142 shares of Karuna Therapeutics Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 110,681 were bought by Viking Global Investors LP. In its current portfolio, Wellington Management Co. LLP holds 853,337 shares valued at $107.96 million.

In terms of Karuna Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $259.56 in the next 12 months, up nearly 5.06% from the previous closing price of $258.89. Analysts anticipate Karuna Therapeutics Inc. stock to reach $330.00 by 2022, with the lowest price target being $160.00. In spite of this, 17 analysts ranked Karuna Therapeutics Inc. stock as a Buy at the end of 2022. On August 30, 2021, Citigroup assigned a price target of “a Buy” to the stock and initiated coverage with a $152.

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