Karuna Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing novel therapies to address disabling neuropsychiatric conditions. It specializes in research, development, commercialization of numerous central neural system agents and products targeted at a broad range of psychiatric and neurological conditions. The biotech, Karuna Therapeutics released its 2022 second quarter results yesterday, apart from this news, the karuna’s experimental psych medication, The share price appreciated 77% yesterday. The yesterday’s rally led to Karuna Therapeutics reach an all-time high at $245.00.
$KRTX had its IPO at $17.95 on the June 19, 2021. The price fell to a new low in October 2019 at $10.75. The previous all-time before the rally yesterday was at $162.00 which was in November 2021. There was a gap-up yesterday which led to the all-time high at $245.00. On the weekly chart, the RSI is already is already overbought. There could be a reversal from the all-time in the coming days. The price of $KRTX could fall below $200.
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