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

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) shares saw an uptick in 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 changed hands 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.

KPTI has been the topic of a number of other reports. StockNews.com downgraded shares of Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Piper Sandler raised their price target on shares of Karyopharm Therapeutics from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Karyopharm Therapeutics in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.75.

Institutional Investors Weigh In On Karyopharm Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. boosted its position in Karyopharm Therapeutics by 46.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 6,319,842 shares of the company’s stock worth $4,274,000 after buying an additional 2,000,000 shares during the period. Marshall Wace LLP boosted its position in Karyopharm Therapeutics by 15.3% during the 4th quarter. Marshall Wace LLP now owns 2,401,413 shares of the company’s stock worth $1,633,000 after buying an additional 319,187 shares during the period. GSA Capital Partners LLP boosted its position in Karyopharm Therapeutics by 80.6% during the 3rd quarter. GSA Capital Partners LLP now owns 1,775,700 shares of the company’s stock worth $1,474,000 after buying an additional 792,283 shares during the period. Geode Capital Management LLC boosted its position in Karyopharm Therapeutics by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,392,314 shares of the company’s stock worth $942,000 after buying an additional 36,922 shares during the period. Finally, Jane Street Group LLC boosted its position in Karyopharm Therapeutics by 265.5% during the 4th quarter. Jane Street Group LLC now owns 748,306 shares of the company’s stock worth $506,000 after buying an additional 543,556 shares during the period. 66.44% of the stock is currently owned by institutional investors and hedge funds.

Karyopharm Therapeutics Trading Up 14.8 %

The firm’s 50-day moving average is $0.84 and its 200 day moving average is $0.82. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.64 and a beta of 0.06.

Karyopharm Therapeutics (NASDAQ:KPTI) last posted its earnings results on Wednesday, February 19th. The company reported ($3.60) EPS for the quarter, topping the consensus estimate of ($3.90) by $0.30. The business had revenue of $30.54 million for the quarter, compared to analyst estimates of $30.29 million. Analysts predict that Karyopharm Therapeutics Inc. will post -0.71 EPS 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).