Karyopharm Therapeutics (NASDAQ:KPTI) Sees Strong Trading Volume Following Analyst Upgrade

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 traded 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 research 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. Royal Bank of Canada reiterated an “outperform” rating and set a $3.00 target price on shares of Karyopharm Therapeutics in a research note on Thursday, February 20th. Finally, Piper Sandler increased their price target on shares of Karyopharm Therapeutics from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Karyopharm Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Hedge Funds Weigh In On Karyopharm Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of KPTI. Geode Capital Management LLC lifted its position in shares of Karyopharm Therapeutics by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,392,314 shares of the company’s stock valued at $942,000 after buying an additional 36,922 shares during the last quarter. Silverarc Capital Management LLC raised its stake in Karyopharm Therapeutics by 6.7% in 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 bought a new stake in Karyopharm Therapeutics in the 4th quarter valued at about $27,000. Two Sigma Advisers LP lifted its holdings in Karyopharm Therapeutics by 145.5% during the fourth quarter. Two Sigma Advisers LP now owns 76,600 shares of the company’s stock valued at $52,000 after purchasing an additional 45,400 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in Karyopharm Therapeutics during the fourth quarter worth about $31,000. 66.44% of the stock is owned by institutional investors.

Karyopharm Therapeutics Price Performance

The firm’s 50 day moving average price is $0.66 and its two-hundred day moving average price is $0.75. The stock has a market cap of $1.11 billion, a PE ratio of -8.68 and a beta of 0.06.

Karyopharm Therapeutics (NASDAQ:KPTI) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.02. The business had revenue of $30.54 million during the quarter, compared to the consensus estimate of $30.29 million. Analysts anticipate that Karyopharm Therapeutics Inc. will post -0.71 earnings per share for the current year.

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).