Fintel reports that Sofinnova Venture Partners X has filed a 13D/A form with the SEC disclosing ownership of 1.44MM shares of Karuna Therapeutics Inc (KRTX). This represents 3.8% of the company.
In their previous filing dated February 6, 2023 they reported 1.83MM shares and 5.30% of the company, a decrease in shares of 21.19% and a decrease in total ownership of 1.50% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 17.28% Upside
As of June 2, 2023, the average one-year price target for Karuna Therapeutics is 278.77. The forecasts range from a low of 194.93 to a high of $350.70. The average price target represents an increase of 17.28% from its latest reported closing price of 237.70.
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The projected annual revenue for Karuna Therapeutics is 23MM, an increase of 106.08%. The projected annual non-GAAP EPS is -9.87.
What is the Fund Sentiment?
There are 639 funds or institutions reporting positions in Karuna Therapeutics. This is an increase of 33 owner(s) or 5.45% in the last quarter. Average portfolio weight of all funds dedicated to KRTX is 0.44%, a decrease of 2.24%. Total shares owned by institutions increased in the last three months by 11.29% to 44,384K shares. The put/call ratio of KRTX is 0.53, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 3,390K shares representing 9.05% ownership of the company. In it’s prior filing, the firm reported owning 1,696K shares, representing an increase of 49.98%. The firm increased its portfolio allocation in KRTX by 77.10% over the last quarter.
Price T Rowe Associates holds 2,482K shares representing 6.63% ownership of the company. In it’s prior filing, the firm reported owning 2,363K shares, representing an increase of 4.77%. The firm decreased its portfolio allocation in KRTX by 9.67% over the last quarter.
T. Rowe Price Investment Management holds 2,481K shares representing 6.63% ownership of the company. In it’s prior filing, the firm reported owning 1,203K shares, representing an increase of 51.52%. The firm increased its portfolio allocation in KRTX by 78.17% over the last quarter.
Sofinnova Investments holds 1,773K shares representing 4.74% ownership of the company. In it’s prior filing, the firm reported owning 2,073K shares, representing a decrease of 16.92%. The firm decreased its portfolio allocation in KRTX by 14.80% over the last quarter.
Wellington Management Group Llp holds 1,607K shares representing 4.29% ownership of the company. In it’s prior filing, the firm reported owning 1,055K shares, representing an increase of 34.34%. The firm decreased its portfolio allocation in KRTX by 80.36% over the last quarter.
Karuna Therapeutics Background Information
(This description is provided by the company.)
Karuna Therapeutics is a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions.Karuna understand there is a need for differentiated and more effective treatments that can help patients navigate the challenges presented by these severe and disabling disorders. Utilizing itsextensive knowledge of neuroscience, the Company is harnessing the untapped potential of the brain in pursuit of novel pathways to develop medicines that make meaningful differences in peoples’ lives.
This article originally appeared on Fintel
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