AlphaQuest LLC Sells 35,327 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• AlphaQuest LLC significantly reduced its stake in Catalyst Pharmaceuticals by 80.4%, selling 35,327 shares and leaving it with just 8,589 shares valued at $208,000.
• Multiple institutional investors, including Hsbc Holdings PLC and Northern Trust Corp, increased their holdings in Catalyst Pharmaceuticals, contributing to a total institutional ownership of 79.22%.
• Catalyst Pharmaceuticals' stock received mixed analyst ratings, with Cantor Fitzgerald upgrading it to a "strong-buy" while others have adjusted ratings to "hold", resulting in a consensus "Buy" rating with a price target of $33.20.

AlphaQuest LLC lessened its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 80.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,589 shares of the biopharmaceutical company's stock after selling 35,327 shares during the quarter. AlphaQuest LLC's holdings in Catalyst Pharmaceuticals were worth $208,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CPRX. Park Square Financial Group LLC acquired a new position in Catalyst Pharmaceuticals in the 4th quarter worth approximately $29,000. Sound Income Strategies LLC bought a new position in shares of Catalyst Pharmaceuticals during the 1st quarter valued at $64,000. GAMMA Investing LLC raised its holdings in Catalyst Pharmaceuticals by 26.2% in the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after acquiring an additional 579 shares during the period. PNC Financial Services Group Inc. raised its holdings in Catalyst Pharmaceuticals by 57.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company's stock worth $133,000 after acquiring an additional 2,002 shares during the period. Finally, US Bancorp DE raised its holdings in Catalyst Pharmaceuticals by 17.8% in the 1st quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company's stock worth $178,000 after acquiring an additional 1,105 shares during the period. 79.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, Director David S. Tierney sold 26,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $20.20, for a total value of $525,200.00. Following the transaction, the director owned 379,620 shares in the company, valued at approximately $7,668,324. The trade was a 6.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Preethi Sundaram sold 1,600 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total transaction of $42,272.00. Following the transaction, the insider owned 41,081 shares in the company, valued at $1,085,360.02. The trade was a 3.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,894 shares of company stock valued at $3,434,690. 10.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CPRX shares. Wall Street Zen lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Zacks Research downgraded shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Catalyst Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $33.20.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock traded down $0.05 on Tuesday, hitting $20.54. The company's stock had a trading volume of 1,504,350 shares, compared to its average volume of 1,453,339. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $26.58. The company has a market capitalization of $2.51 billion, a PE ratio of 12.45, a PEG ratio of 0.84 and a beta of 0.85. The stock's 50 day moving average is $20.96 and its 200-day moving average is $22.48.

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.