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

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 18,930,000 shares, an increase of 7.0% from the October 31st total of 17,690,000 shares. Based on an average daily trading volume, of 747,500 shares, the days-to-cover ratio is presently 25.3 days.

Analyst Ratings Changes

A number of brokerages recently weighed in on KPTI. StockNews.com downgraded shares of Karyopharm Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Robert W. Baird dropped their target price on shares of Karyopharm Therapeutics from $8.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Karyopharm Therapeutics in a report on Friday, November 1st. Piper Sandler upped their price objective on Karyopharm Therapeutics from $4.00 to $5.00 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 issued a $3.00 price objective on shares of Karyopharm Therapeutics in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.00.

Institutional Trading of Karyopharm Therapeutics

Several hedge funds have recently added to or reduced their stakes in KPTI. Acadian Asset Management LLC bought a new position in Karyopharm Therapeutics during the 2nd quarter worth $167,000. Point72 DIFC Ltd bought a new position in Karyopharm Therapeutics during the second quarter worth about $31,000. Cubist Systematic Strategies LLC bought a new position in Karyopharm Therapeutics during the second quarter worth about $494,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Karyopharm Therapeutics in the 2nd quarter worth about $143,000. Finally, AQR Capital Management LLC boosted its holdings in Karyopharm Therapeutics by 494.5% in the 2nd quarter. AQR Capital Management LLC now owns 748,020 shares of the company’s stock valued at $649,000 after purchasing an additional 622,194 shares during the period. 66.44% of the stock is owned by institutional investors and hedge funds.

Karyopharm Therapeutics Stock Performance

NASDAQ KPTI opened at $0.83 on Tuesday. The firm has a 50-day moving average of $0.84 and a 200-day moving average of $0.87. Karyopharm Therapeutics has a 52-week low of $0.62 and a 52-week high of $1.95.

Karyopharm Therapeutics (NASDAQ:KPTI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. The company had revenue of $38.78 million for the quarter, compared to analyst estimates of $37.86 million. During the same quarter last year, the business earned ($0.30) earnings per share. As a group, sell-side analysts expect that Karyopharm Therapeutics will post -0.94 earnings per share for the current year.

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).