Karyopharm Therapeutics Inc. (NASDAQ:KPTI) Sees Large Drop in Short Interest

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 1,390,000 shares, a decline of 93.1% from the January 31st total of 20,140,000 shares. Based on an average daily volume of 72,300 shares, the days-to-cover ratio is currently 19.2 days. Approximately 17.9% of the company’s shares are short sold.

Institutional Investors Weigh In On Karyopharm Therapeutics

Hedge funds have recently bought and sold shares of the stock. Velan Capital Investment Management LP purchased a new position in Karyopharm Therapeutics during the 4th quarter worth approximately $27,000. Two Sigma Advisers LP raised 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 worth $52,000 after purchasing an additional 45,400 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Karyopharm Therapeutics by 60.3% during the 4th quarter. Two Sigma Investments LP now owns 137,786 shares of the company’s stock worth $93,000 after buying an additional 51,856 shares in the last quarter. Shay Capital LLC acquired a new stake in Karyopharm Therapeutics in the fourth quarter valued at $116,000. Finally, Focus Partners Wealth purchased a new stake in Karyopharm Therapeutics during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Karyopharm Therapeutics Stock Performance

Shares of KPTI opened at $8.35 on Friday. The stock has a market capitalization of $70.31 million, a PE ratio of -8.19 and a beta of 0.06. Karyopharm Therapeutics has a 1 year low of $7.61 and a 1 year high of $25.50. The company’s 50-day simple moving average is $9.85 and its 200-day simple moving average is $11.28.

Karyopharm Therapeutics (NASDAQ:KPTI) last posted its quarterly earnings data 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 company had revenue of $30.54 million for the quarter, compared to analysts’ expectations of $30.29 million. On average, sell-side analysts predict that Karyopharm Therapeutics will post -0.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com cut Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. HC Wainwright increased their target price on shares of Karyopharm Therapeutics from $7.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler boosted 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 reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Karyopharm Therapeutics in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Karyopharm Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

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).