Karyopharm Therapeutics Inc. (NASDAQ:KPTI) Short Interest Up 20.9% in March

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 3,592,118 shares, a growth of 20.9% from the February 26th total of 2,971,195 shares. Based on an average daily volume of 713,792 shares, the days-to-cover ratio is currently 5.0 days. Approximately 19.9% of the shares of the company are short sold.

Karyopharm Therapeutics Trading Up 1.9%

KPTI traded up $0.11 during trading on Wednesday, reaching $5.68. 372,526 shares of the company were exchanged, compared to its average volume of 983,396. Karyopharm Therapeutics has a 52 week low of $3.51 and a 52 week high of $10.99. The firm has a 50 day moving average of $7.70 and a 200 day moving average of $6.81. The stock has a market cap of $104.10 million, a P/E ratio of -0.34 and a beta of 0.13.

Karyopharm Therapeutics (NASDAQ:KPTI) last posted its earnings results on Friday, February 13th. The company reported ($2.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.26) by $0.03. The company had revenue of $34.08 million during the quarter, compared to the consensus estimate of $33.16 million. As a group, analysts forecast that Karyopharm Therapeutics will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Baird Financial Group Inc. acquired a new stake in shares of Karyopharm Therapeutics in the second quarter valued at approximately $45,000. XTX Topco Ltd acquired a new position in shares of Karyopharm Therapeutics during the second quarter worth approximately $56,000. Corient Private Wealth LLC bought a new position in Karyopharm Therapeutics in the 4th quarter worth approximately $74,000. Tudor Investment Corp ET AL bought a new position in Karyopharm Therapeutics in the 4th quarter worth approximately $95,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Karyopharm Therapeutics in the 4th quarter valued at approximately $135,000. 66.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KPTI shares. Cantor Fitzgerald initiated coverage on shares of Karyopharm Therapeutics in a research note on Thursday, February 5th. They set an “overweight” rating for the company. HC Wainwright decreased their price target on shares of Karyopharm Therapeutics from $15.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Piper Sandler reaffirmed an “overweight” rating and set a $8.00 price objective (down from $12.00) on shares of Karyopharm Therapeutics in a research report on Monday. Robert W. Baird dropped their price objective on shares of Karyopharm Therapeutics from $21.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Finally, The Goldman Sachs Group set a $12.00 target price on shares of Karyopharm Therapeutics in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.

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.