Traders Buy Large Volume of Call Options on Karyopharm Therapeutics (NASDAQ:KPTI)

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) saw some unusual options trading activity on Wednesday. Investors bought 10,053 call options on the company. This is an increase of 282% compared to the average volume of 2,632 call options.

Hedge Funds Weigh In On Karyopharm Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. purchased a new stake in Karyopharm Therapeutics during the 2nd quarter valued at approximately $45,000. XTX Topco Ltd acquired a new stake in shares of Karyopharm Therapeutics during the second quarter worth $56,000. Hsbc Holdings PLC acquired a new stake in shares of Karyopharm Therapeutics during the first quarter worth $66,000. Corient Private Wealth LLC purchased a new position in Karyopharm Therapeutics in the 4th quarter valued at $74,000. Finally, Tudor Investment Corp ET AL acquired a new position in Karyopharm Therapeutics in the 4th quarter valued at $95,000. Hedge funds and other institutional investors own 66.44% of the company’s stock.

Karyopharm Therapeutics Stock Up 1.4%

NASDAQ:KPTI traded up $0.14 during mid-day trading on Wednesday, reaching $10.19. 291,389 shares of the stock were exchanged, compared to its average volume of 725,754. The stock has a market capitalization of $230.91 million, a P/E ratio of -0.67 and a beta of 0.80. Karyopharm Therapeutics has a 1 year low of $3.65 and a 1 year high of $10.99. The company has a 50 day simple moving average of $8.98 and a 200-day simple moving average of $8.10.

Karyopharm Therapeutics (NASDAQ:KPTI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($1.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.21. The business had revenue of $35.07 million for the quarter, compared to analyst estimates of $31.40 million. As a group, research analysts predict that Karyopharm Therapeutics will post -3.24 EPS for the current year.

Analysts Set New Price Targets

KPTI has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Karyopharm Therapeutics from $21.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Rodman & Renshaw upgraded Karyopharm Therapeutics to a “strong-buy” rating in a research note on Tuesday, March 10th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (up from $8.00) on shares of Karyopharm Therapeutics in a report on Monday, April 27th. HC Wainwright reaffirmed a “buy” rating on shares of Karyopharm Therapeutics in a research report on Thursday, June 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Karyopharm Therapeutics in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

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.