Boston, MA 08/29/2014 (wallstreetpr) – Clinical-stage pharmaceutical company, Karyopharm Therapeutics Inc (NASDAQ:KPTI) had witnessed an insider selling part of his holding in the open market taking advantage of the prevailing price.
Sell Shares
One of the big shareholders, Marcin Czernik, had off-loaded part of his holding in Karyopharm Therapeutics on August 26 and 27 through three transactions. He comes under the 10% ownership category of Karyopharm Therapeutics Inc (NASDAQ:KPTI).
The Director sold 22,239 shares in two transactions on August 26. While the first transaction involved 20,393 shares at the rate of $38.5, the second transaction involved 1,846 shares that were sold at an average cost of $39.09, Karyopharm Therapeutics Inc (NASDAQ:KPTI) had disclosed the data in a filing with the Securities and Exchange Commission or the SEC. Both the transactions had fetched him proceeds of $857.3K. Based on the Thursday’s closing price of $36.06, the Director had already pocketed a minimum of $2.50 a share profit.
The Director had also sold these shares at a discount of roughly 18.5% – 19.8% from the year high price of $47.98. However, based on the 52-week low price of $15.50, the Director had sold his shares around 150% higher.
Similarly, on August 27, Marcin Czernik had resorted to selling another 21,460 shares at the rate of $39.07 a share. The transaction had yielded him revenue of around $774K.
In the two-day selling, the Director had sold 43,699 shares and realized revenue of approximately $1.57 million. As a result, his total holdings have come down to about 2.98 million shares worth approximately $107.6 million.
Previous Insider Trading
In the last three-month period, there were seven transactions and all were related to selling only and there was no buying of stock by the insiders, a data from Nasdaq indicated. They have sold approximately 1.08 million shares during the three-month period.
However, for the 12-month period, the picture was completely different. There were 32 transactions, and 15 were related to buying of shares. Interestingly, all the buying activities happened before the three-month period. A total of about 29.389 million shares were acquired by the insiders, and only 1.08 million shares were sold thus a net buying activities of 28.3 million shares by the insiders.
