Karyopharm Therapeutics Target of Unusually Large Options Trading (NASDAQ:KPTI)

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 10,053 call options on the stock. This is an increase of approximately 282% compared to the typical daily volume of 2,632 call options.

Karyopharm Therapeutics Stock Up 1.4%

NASDAQ:KPTI traded up $0.14 on Wednesday, reaching $10.19. 291,389 shares of the company’s stock were exchanged, compared to its average volume of 725,754. The firm has a market capitalization of $230.91 million, a price-to-earnings ratio of -0.67 and a beta of 0.80. Karyopharm Therapeutics has a 52-week low of $3.65 and a 52-week high of $10.99. The business has a fifty day moving average of $8.98 and a 200-day moving average of $8.10.

Karyopharm Therapeutics (NASDAQ:KPTI) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.21. The business had revenue of $35.07 million during the quarter, compared to analysts’ expectations of $31.40 million. As a group, equities analysts anticipate that Karyopharm Therapeutics will post -3.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Karyopharm Therapeutics in a research note on Tuesday, June 9th. HC Wainwright restated a “buy” rating on shares of Karyopharm Therapeutics in a report on Thursday, June 18th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (up from $8.00) on shares of Karyopharm Therapeutics in a research report on Monday, April 27th. Rodman & Renshaw upgraded Karyopharm Therapeutics to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Robert W. Baird reduced their target price on Karyopharm Therapeutics from $21.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Karyopharm Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Institutional Trading of Karyopharm Therapeutics

Several hedge funds have recently modified their holdings of the stock. Avidity Partners Management LP grew its stake in Karyopharm Therapeutics by 244.6% during the 1st quarter. Avidity Partners Management LP now owns 463,741 shares of the company’s stock worth $2,583,000 after purchasing an additional 329,175 shares in the last quarter. Royal Bank of Canada raised its position in Karyopharm Therapeutics by 4.1% in the 1st quarter. Royal Bank of Canada now owns 60,399 shares of the company’s stock valued at $336,000 after purchasing an additional 2,399 shares in the last quarter. Commodore Capital LP purchased a new position in shares of Karyopharm Therapeutics in the 1st quarter valued at about $10,862,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Karyopharm Therapeutics during the first quarter worth about $108,000. Finally, Renaissance Technologies LLC grew its position in shares of Karyopharm Therapeutics by 75.9% during the first quarter. Renaissance Technologies LLC now owns 105,414 shares of the company’s stock worth $587,000 after buying an additional 45,500 shares in the last quarter. 66.44% of the stock is currently owned by institutional investors and hedge funds.

About Karyopharm Therapeutics

Karyopharm Therapeutics (NASDAQ: KPTI) is a clinical-stage biopharmaceutical company focused on discovering and developing novel first-in-class drugs that target the nuclear export protein XPO1. The company’s lead product, selinexor (marketed as XPOVIO), is an oral selective inhibitor of nuclear export (SINE) compound approved for treatment of multiple myeloma and diffuse large B-cell lymphoma. In addition to selinexor, Karyopharm’s pipeline includes second-generation SINE compounds and combination studies in solid tumors and hematologic malignancies.

Founded in 2008 and headquartered in Newton, Massachusetts, Karyopharm has built a research platform around modulation of nuclear export pathways.