Is Karuna Therapeutics (KRTX) Stock Bullish Now?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund delivered negative returns in the third quarter. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell 2000 Growth Index was 0.26% up compared to a 4.60% decline for its counterpart, the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like Karuna Therapeutics, Inc. (NASDAQ:KRTX). Headquartered in Boston, Massachusetts, Karuna Therapeutics, Inc. (NASDAQ:KRTX) is a biopharmaceutical company. On October 27, 2022, Karuna Therapeutics, Inc. (NASDAQ:KRTX) stock closed at $221.89 per share. One-month return of Karuna Therapeutics, Inc. (NASDAQ:KRTX) was -1.35% and its shares gained 58.06% of their value over the last 52 weeks. Karuna Therapeutics, Inc. (NASDAQ:KRTX) has a market capitalization of $7.537 billion.

Carillon Tower Advisers made the following comment about Karuna Therapeutics, Inc. (NASDAQ:KRTX) in its Q3 2022 investor letter:

Karuna Therapeutics, Inc. (NASDAQ:KRTX) is a biotechnology company that develops therapies to treat chronic mental health and central nervous system disorders. The stock rose significantly after data from the phase 3 trial for its treatment of schizophrenia achieved statistical significance on its primary endpoint. The effect of the drug was clinically meaningful on multiple parameters, including both positive and negative symptoms.”

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Karuna Therapeutics, Inc. (NASDAQ:KRTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Karuna Therapeutics, Inc. (NASDAQ:KRTX) at the end of the second quarter which was 28 in the previous quarter.

We discussed Karuna Therapeutics, Inc. (NASDAQ:KRTX) in another article and shared the best performing non-energy stocks of 2022. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.