Karyopharm Therapeutics (NASDAQ:KPTI) Shares Down 9% – Time to Sell?

Karyopharm Therapeutics Inc. (NASDAQ:KPTI)’s share price was down 9% during trading on Thursday . The company traded as low as $9.12 and last traded at $8.94. Approximately 161,265 shares traded hands during mid-day trading, an increase of 112% from the average daily volume of 75,959 shares. The stock had previously closed at $9.83.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. HC Wainwright upped their target price on shares of Karyopharm Therapeutics from $7.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com cut Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Karyopharm Therapeutics in a research note on Thursday, February 20th. Finally, Piper Sandler boosted their target price on Karyopharm Therapeutics from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.75.

Karyopharm Therapeutics Trading Down 4.8 %

The firm has a market capitalization of $66.94 million, a PE ratio of -7.79 and a beta of 0.06. The stock’s 50 day moving average price is $9.81 and its two-hundred day moving average price is $11.24.

Karyopharm Therapeutics (NASDAQ:KPTI) last released its quarterly 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 company had revenue of $30.54 million for the quarter, compared to analysts’ expectations of $30.29 million. Analysts expect that Karyopharm Therapeutics Inc. will post -0.71 earnings per share for the current year.

Hedge Funds Weigh In On Karyopharm Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. increased its stake in shares of 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 valued at $4,274,000 after acquiring an additional 2,000,000 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Karyopharm Therapeutics by 80.6% in 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. Jane Street Group LLC increased its position in Karyopharm Therapeutics by 265.5% during the fourth quarter. Jane Street Group LLC now owns 748,306 shares of the company’s stock worth $506,000 after purchasing an additional 543,556 shares during the last quarter. Marshall Wace LLP raised its stake in Karyopharm Therapeutics by 15.3% during the fourth 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, Shay Capital LLC acquired a new position in shares of Karyopharm Therapeutics in the 4th quarter valued at $116,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.

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).