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

Shares of Karyopharm Therapeutics Inc. (NASDAQ:KPTI) saw unusually-high 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. Approximately 71,335 shares changed hands during mid-day 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 analysts have also recently weighed in on KPTI. StockNews.com cut Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Piper Sandler lifted their price target on shares of Karyopharm Therapeutics from $60.00 to $75.00 and gave the company 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 target price on shares of Karyopharm Therapeutics in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.75.

Institutional Trading of Karyopharm Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its position in Karyopharm Therapeutics by 80.6% during the third quarter. GSA Capital Partners LLP now owns 1,775,700 shares of the company’s stock valued at $1,474,000 after purchasing an additional 792,283 shares during the period. FMR LLC grew its position in shares of Karyopharm Therapeutics by 26.1% during the 3rd quarter. FMR LLC now owns 369,723 shares of the company’s stock valued at $307,000 after acquiring an additional 76,510 shares during the period. Geode Capital Management LLC increased its stake in shares of Karyopharm Therapeutics by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,355,392 shares of the company’s stock worth $1,125,000 after purchasing an additional 43,856 shares in the last quarter. Marshall Wace LLP raised its holdings in Karyopharm Therapeutics by 15.3% in the 4th quarter. Marshall Wace LLP now owns 2,401,413 shares of the company’s stock worth $1,633,000 after purchasing an additional 319,187 shares during the period. Finally, TD Waterhouse Canada Inc. purchased a new position in Karyopharm Therapeutics during the fourth quarter valued at $32,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

Karyopharm Therapeutics Stock Down 15.1 %

The firm has a 50 day moving average price of $9.85 and a 200 day moving average price of $11.28. The stock has a market cap of $70.31 million, a P/E ratio of -8.19 and a beta of 0.06.

Karyopharm Therapeutics (NASDAQ:KPTI) last issued its earnings results on Wednesday, February 19th. The company reported ($3.60) earnings per share for the quarter, topping the consensus estimate of ($3.90) by $0.30. The firm had revenue of $30.54 million during the quarter, compared to the consensus estimate of $30.29 million. Equities analysts predict 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).