Sigma Planning Corp Makes New $516,000 Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Sigma Planning Corp bought a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,275 shares of the biopharmaceutical company's stock, valued at approximately $516,000.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of Catalyst Pharmaceuticals by 125.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock valued at $56,000 after buying an additional 1,495 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Catalyst Pharmaceuticals in the first quarter valued at about $484,000. Principal Financial Group Inc. boosted its holdings in shares of Catalyst Pharmaceuticals by 2.8% in the first quarter. Principal Financial Group Inc. now owns 617,506 shares of the biopharmaceutical company's stock valued at $14,975,000 after acquiring an additional 17,018 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Catalyst Pharmaceuticals by 27.7% in the first quarter. Spire Wealth Management now owns 18,429 shares of the biopharmaceutical company's stock valued at $447,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 29.8% in the fourth quarter. Natixis Advisors LLC now owns 59,253 shares of the biopharmaceutical company's stock valued at $1,237,000 after acquiring an additional 13,616 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Six analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $32.83.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Preethi Sundaram sold 1,600 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total value of $42,272.00. Following the completion of the transaction, the insider directly owned 41,081 shares of the company's stock, valued at $1,085,360.02. The trade was a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Ingenito sold 44,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $23.63, for a total value of $1,039,720.00. Following the completion of the sale, the insider owned 68,873 shares of the company's stock, valued at approximately $1,627,468.99. The trade was a 38.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 247,924 shares of company stock worth $5,879,369. 10.40% of the stock is currently owned by corporate insiders.

Catalyst Pharmaceuticals Price Performance

CPRX traded down $0.11 during midday trading on Tuesday, hitting $20.90. 1,311,465 shares of the company's stock traded hands, compared to its average volume of 1,148,408. The company has a market cap of $2.55 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.86 and a beta of 0.66. The stock's fifty day simple moving average is $23.12 and its 200-day simple moving average is $22.89. Catalyst Pharmaceuticals, Inc. has a one year low of $15.34 and a one year high of $26.58.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.