Karyopharm Therapeutics (NASDAQ:KPTI) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Karyopharm Therapeutics Inc. (NASDAQ:KPTI)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.92 and traded as low as $0.85. Karyopharm Therapeutics shares last traded at $0.85, with a volume of 316,258 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird dropped their price target on Karyopharm Therapeutics from $8.00 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $3.00 price target on shares of Karyopharm Therapeutics in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Karyopharm Therapeutics in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Karyopharm Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.80.

Karyopharm Therapeutics Stock Down 5.8 %

The stock has a fifty day moving average of $0.80 and a 200-day moving average of $0.92. The firm has a market capitalization of $105.61 million, a P/E ratio of -0.67 and a beta of 0.20.

Karyopharm Therapeutics (NASDAQ:KPTI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. The firm had revenue of $42.79 million during the quarter, compared to the consensus estimate of $36.07 million. As a group, analysts forecast that Karyopharm Therapeutics Inc. will post -0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Karyopharm Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of KPTI. Exchange Traded Concepts LLC grew its position in shares of Karyopharm Therapeutics by 34.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 218,791 shares of the company’s stock valued at $182,000 after buying an additional 56,613 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Karyopharm Therapeutics in the second quarter valued at approximately $31,000. Cubist Systematic Strategies LLC bought a new position in Karyopharm Therapeutics during the 2nd quarter worth approximately $494,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Karyopharm Therapeutics in the 2nd quarter worth approximately $143,000. Finally, AQR Capital Management LLC lifted its position in shares of Karyopharm Therapeutics by 494.5% in the 2nd quarter. AQR Capital Management LLC now owns 748,020 shares of the company’s stock worth $649,000 after purchasing an additional 622,194 shares during the period. Institutional investors own 66.44% of the company’s stock.

Karyopharm Therapeutics Company Profile

Karyopharm Therapeutics Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes drugs directed against nuclear export for the treatment of cancer and other diseases in the United States. The company discovers, develops, and commercializes novel and small molecule Selective Inhibitor of Nuclear Export (SINE) compounds that inhibit the nuclear export protein exportin 1 (XPO1).