Opaleye Management Inc. Purchases New Stake in Karyopharm Therapeutics Inc. (NASDAQ:KPTI)

Opaleye Management Inc. bought a new stake in Karyopharm Therapeutics Inc. (NASDAQ:KPTI – Get Rating) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,206,841 shares of the company’s stock, valued at approximately $4,282,000. Karyopharm Therapeutics accounts for 1.5% of Opaleye Management Inc.’s holdings, making the stock its 22nd largest holding.

Other large investors also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Karyopharm Therapeutics by 106.5% in the 4th quarter. Bank of America Corp DE now owns 1,511,166 shares of the company’s stock valued at $5,138,000 after buying an additional 779,302 shares during the period. New York Life Investment Management LLC increased its stake in shares of Karyopharm Therapeutics by 12.7% in the fourth quarter. New York Life Investment Management LLC now owns 76,968 shares of the company’s stock worth $262,000 after acquiring an additional 8,675 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Karyopharm Therapeutics by 178.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,278 shares of the company’s stock valued at $1,470,000 after acquiring an additional 276,845 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in Karyopharm Therapeutics by 134.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 8,906 shares of the company’s stock valued at $30,000 after buying an additional 5,105 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Karyopharm Therapeutics by 186.5% in the 4th quarter. Principal Financial Group Inc. now owns 56,805 shares of the company’s stock worth $193,000 after purchasing an additional 36,978 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Karyopharm Therapeutics Trading Down 2.5 %

KPTI stock traded down $0.06 during midday trading on Friday, reaching $2.35. 811,599 shares of the company’s stock traded hands, compared to its average volume of 2,664,332. The company has a 50-day simple moving average of $3.40 and a two-hundred day simple moving average of $3.61. Karyopharm Therapeutics Inc. has a 1-year low of $2.28 and a 1-year high of $6.84.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KPTI. Morgan Stanley reduced their price objective on shares of Karyopharm Therapeutics from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, January 27th. Robert W. Baird cut their price objective on shares of Karyopharm Therapeutics from $14.00 to $10.00 in a research report on Friday, May 5th. StockNews.com initiated coverage on Karyopharm Therapeutics in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, HC Wainwright dropped their price objective on shares of Karyopharm Therapeutics from $16.00 to $10.00 in a research note on Friday, May 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Insider Activity

In other news, EVP Sohanya Roshan Cheng sold 11,239 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $3.03, for a total value of $34,054.17. Following the completion of the sale, the executive vice president now directly owns 210,687 shares in the company, valued at $638,381.61. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Richard A. Paulson sold 33,033 shares of Karyopharm Therapeutics stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $3.03, for a total value of $100,089.99. Following the completion of the sale, the chief executive officer now directly owns 823,622 shares of the company’s stock, valued at approximately $2,495,574.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sohanya Roshan Cheng sold 11,239 shares of Karyopharm Therapeutics stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $3.03, for a total value of $34,054.17. Following the completion of the sale, the executive vice president now owns 210,687 shares of the company’s stock, valued at $638,381.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,412 shares of company stock worth $252,484. 3.32% of the stock is owned by corporate insiders.

About Karyopharm Therapeutics

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Karyopharm Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development, and commercialization of drugs directed against nuclear export for the treatment of cancer and other diseases. Its Selective Inhibitor of Nuclear Export (SINE) compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1).