Karyopharm Therapeutics (NASDAQ:KPTI) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Karyopharm Therapeutics Inc. (NASDAQ:KPTI) saw strong trading volume on Wednesday after HC Wainwright raised their price target on the stock from $7.00 to $56.00. HC Wainwright currently has a buy rating on the stock. 71,335 shares were traded during trading, an increase of 19% from the previous session’s volume of 59,874 shares.The stock last traded at $8.82 and had previously closed at $8.56.

Several other research firms also recently commented on KPTI. StockNews.com downgraded shares of Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price target on shares of Karyopharm Therapeutics from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Karyopharm Therapeutics in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.75.

Institutional Investors Weigh In On Karyopharm Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in KPTI. Geode Capital Management LLC raised its holdings in shares of Karyopharm Therapeutics by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,392,314 shares of the company’s stock valued at $942,000 after purchasing an additional 36,922 shares during the last quarter. Silverarc Capital Management LLC grew its position in shares of Karyopharm Therapeutics by 6.7% during the 4th quarter. Silverarc Capital Management LLC now owns 595,990 shares of the company’s stock valued at $403,000 after acquiring an additional 37,524 shares during the period. Velan Capital Investment Management LP purchased a new position in Karyopharm Therapeutics in the fourth quarter valued at approximately $27,000. Two Sigma Advisers LP boosted its position in Karyopharm Therapeutics by 145.5% during the fourth quarter. Two Sigma Advisers LP now owns 76,600 shares of the company’s stock worth $52,000 after purchasing an additional 45,400 shares during the period. Finally, Focus Partners Wealth bought a new position in Karyopharm Therapeutics in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Karyopharm Therapeutics Trading Down 15.1 %

The firm has a market cap of $70.31 million, a P/E ratio of -8.19 and a beta of 0.06. The business’s fifty day simple moving average is $9.85 and its 200-day simple moving average is $11.28.

Karyopharm Therapeutics (NASDAQ:KPTI) last announced its earnings results on Wednesday, February 19th. The company reported ($3.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.90) by $0.30. The business had revenue of $30.54 million during the quarter, compared to the consensus estimate of $30.29 million. As a group, research analysts expect that Karyopharm Therapeutics Inc. will post -0.71 earnings per share for the current fiscal year.

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).