Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Karyopharm Therapeutics Inc. shares valued at $100,064 were sold by Paulson Richard A. on Mar 01. At $3.03 per share, Paulson Richard A. sold 33,033 shares. The insider’s holdings dropped to 823,622 shares worth approximately $2.54 million following the completion of this transaction.
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Also, Cheng Sohanya Roshan sold 11,239 shares, netting a total of over 34,045 in proceeds. Following the sale of shares at $3.03 each, the insider now holds 210,687 shares.
Before that, Mason Michael had sold 11,205 shares from its account. In a trade valued at $33,942, the EVP, CFO & Treasurer traded Karyopharm Therapeutics Inc. shares for $3.03 each. Upon closing the transaction, the insider’s holdings decreased to 11,205 shares, worth approximately $0.76 million.
As published in their initiating research note from Piper Sandler on January 19, 2023, Karyopharm Therapeutics Inc. [KPTI] has been an Overweight and the price target has been revised to $8. This represents a 61.5% premium over Thursday’s closing price. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in early November. As of February 09, 2022, JP Morgan has increased its “an Underweight” rating to a “Neutral” for KPTI.
Analyzing KPTI Stock Performance
On Thursday, Karyopharm Therapeutics Inc. [NASDAQ: KPTI] plunged -0.32% to $3.08. The stock’s lowest price that day was $3.00, but it reached a high of $3.125 in the same session. During the last five days, there has been a drop of approximately -3.14%. Over the course of the year, Karyopharm Therapeutics Inc. shares have dropped approximately -9.41%. Shares of the company reached a 52-week high of $3.83 on 02/16/23 and a 52-week low of $2.70 on 01/10/23. A 50-day SMA is recorded $3.18, while a 200-day SMA reached $4.58. Nevertheless, trading volume fell to 1.2 million shares from 1.52 million shares the previous day.
Support And Resistance Levels for Karyopharm Therapeutics Inc. (KPTI)
According to the 24-hour chart, there is a support level at 2.99, which, if violated, would cause prices to drop to 2.89. In the upper region, resistance lies at 3.16. The next price resistance is at 3.23. RSI (Relative Strength Index) is 43.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 86.21%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Karyopharm Therapeutics Inc. subject to short interest?
Stocks of Karyopharm Therapeutics Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 2.23 million shares to 23.14 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 20.91 million shares. A jump of 9.64% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.97.
Which companies own the most shares of Karyopharm Therapeutics Inc. (KPTI)?
According to Avidity Partners Management LP filings, the company currently owns 9,633,911 shares, which is about 8.51% of the total KPTI shares outstanding. With the completion of the buy transaction, Rubric Capital Management LP’s stake is now worth $27,372,249. SSgA Funds Management, Inc. reduced a -8.03% interest valued at $27.35 million while BlackRock Fund Advisors purchased a 372,056 stake. A total of 34,143 shares of Karyopharm Therapeutics Inc. were bought by Palo Alto Investors LP during the quarter, and 360,501 were bought by The Vanguard Group, Inc. In its current portfolio, Armistice Capital LLC holds 3,853,565 shares valued at $12.72 million.
In terms of Karyopharm Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $8.89 in the next 12 months, up nearly 158.9% from the previous closing price of $3.09. Analysts anticipate Karyopharm Therapeutics Inc. stock to reach $16.00 by 2023, with the lowest price target being $5.00. In spite of this, 10 analysts ranked Karyopharm Therapeutics Inc. stock as an Overweight at the end of 2023. On August 06, 2021, SVB Leerink assigned a price target of “a Mkt perform” to the stock and downgraded coverage with a $6.