Karyopharm Therapeutics (NASDAQ:KPTI) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Shares of Karyopharm Therapeutics Inc. (NASDAQ:KPTI) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $0.79 and traded as high as $0.89. Karyopharm Therapeutics shares last traded at $0.85, with a volume of 144,083 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KPTI shares. Royal Bank of Canada reissued an “outperform” rating and set a $3.00 price objective on shares of Karyopharm Therapeutics in a research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Karyopharm Therapeutics in a report on Wednesday, August 7th. StockNews.com upgraded shares of Karyopharm Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Robert W. Baird decreased their price objective on shares of Karyopharm Therapeutics from $8.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Karyopharm Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $4.80.

Karyopharm Therapeutics Price Performance

The company’s 50 day simple moving average is $0.79 and its 200 day simple moving average is $0.94. The company has a market capitalization of $106.47 million, a PE ratio of -0.67 and a beta of 0.20.

Karyopharm Therapeutics (NASDAQ:KPTI) last posted its earnings results on Tuesday, August 6th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. The company had revenue of $42.79 million during the quarter, compared to analysts’ expectations of $36.07 million. On average, equities analysts forecast that Karyopharm Therapeutics Inc. will post -0.93 EPS for the current year.

Institutional Trading of Karyopharm Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Karyopharm Therapeutics during the 2nd quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Karyopharm Therapeutics during the second quarter worth approximately $143,000. Acadian Asset Management LLC acquired a new position in shares of Karyopharm Therapeutics in the 2nd quarter valued at $167,000. Exchange Traded Concepts LLC raised its position in 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 purchasing an additional 56,613 shares during the last quarter. Finally, Ikarian Capital LLC boosted its stake in Karyopharm Therapeutics by 2.3% during the 1st quarter. Ikarian Capital LLC now owns 409,355 shares of the company’s stock worth $618,000 after purchasing an additional 9,355 shares during the period. Institutional investors and hedge funds own 66.44% of the company’s stock.

About Karyopharm Therapeutics

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).