Allspring Global Investments Holdings LLC Decreases Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 58.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,184 shares of the biopharmaceutical company's stock after selling 244,148 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.14% of Catalyst Pharmaceuticals worth $4,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CPRX. Castlekeep Investment Advisors LLC purchased a new position in shares of Catalyst Pharmaceuticals during the fourth quarter valued at approximately $37,494,000. Bank of America Corp DE raised its holdings in shares of Catalyst Pharmaceuticals by 139.5% during the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock valued at $32,741,000 after purchasing an additional 913,843 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Catalyst Pharmaceuticals by 131.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock valued at $14,570,000 after purchasing an additional 396,506 shares during the last quarter. Vanguard Group Inc. increased its holdings in Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock valued at $175,957,000 after buying an additional 390,116 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Catalyst Pharmaceuticals during the fourth quarter valued at approximately $6,887,000. 79.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Preethi Sundaram sold 2,324 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total transaction of $61,376.84. Following the completion of the transaction, the insider owned 42,681 shares in the company, valued at approximately $1,127,205.21. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Ingenito sold 200,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $23.68, for a total transaction of $4,736,000.00. Following the transaction, the insider owned 68,873 shares of the company's stock, valued at approximately $1,630,912.64. This represents a 74.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 247,924 shares of company stock valued at $5,879,369. Company insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX traded down $0.20 during mid-day trading on Tuesday, reaching $20.75. The stock had a trading volume of 1,396,073 shares, compared to its average volume of 1,120,611. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.87 and a beta of 0.66. Catalyst Pharmaceuticals, Inc. has a 12 month low of $15.19 and a 12 month high of $26.58. The business has a fifty day moving average of $23.68 and a 200 day moving average of $22.90.

Analyst Ratings Changes

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

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.