Karuna Therapeutics Inc (KRTX, Financial), a clinical-stage biopharmaceutical company focused on developing novel therapies for neuropsychiatric disorders, has reported an insider sale according to a recent SEC filing. Chief Medical Officer Stephen Brannan sold 5,000 shares of the company on March 8, 2024.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this SEC Filing. Following the sale, the insider now directly owns an undisclosed number of shares in the company, valued at an undisclosed amount.
Over the past year, Stephen Brannan has engaged in multiple transactions, selling a total of 60,000 shares and making no purchases of the company's stock. This latest sale continues a trend of insider selling activity at Karuna Therapeutics Inc, with a total of 16 insider sells and no insider buys occurring over the past year.
On the day of the sale, shares of Karuna Therapeutics Inc were trading at $318.34 each, placing the company's market capitalization at approximately $12.18 billion. The insider's sale is part of a broader pattern observed within the company's insider trading history and may be of interest to investors monitoring insider behaviors as an indicator of company performance and direction.
Karuna Therapeutics Inc is at the forefront of addressing the unmet needs in the treatment of psychiatric and neurological conditions, with a pipeline of products designed to act on the central nervous system to improve patient outcomes. Despite the insider selling trend, the company continues to progress in its clinical trials and development programs.
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