AQR Capital Management LLC Sells 31,501 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• AQR Capital Management LLC has reduced its stake in Catalyst Pharmaceuticals by 6.6%, owning approximately 0.37% of the company worth $10.8 million after selling 31,501 shares.
• Wall Street analysts have varied ratings for Catalyst Pharmaceuticals, with a consensus rating of "Buy" and an average target price of $33.20, despite Zacks Research downgrading its rating from "strong-buy" to "hold."
• Insider transactions indicate significant stock sales, with Brian Elsbernd selling 30,000 shares and CEO Richard J. Daly selling 22,970 shares, representing decreases in their respective ownership of 9.97% and 9.20%.

AQR Capital Management LLC lowered its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 445,510 shares of the biopharmaceutical company's stock after selling 31,501 shares during the quarter. AQR Capital Management LLC owned about 0.37% of Catalyst Pharmaceuticals worth $10,804,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in Catalyst Pharmaceuticals in the 4th quarter worth $29,000. Sound Income Strategies LLC acquired a new position in shares of Catalyst Pharmaceuticals during the first quarter valued at about $64,000. GAMMA Investing LLC lifted its stake in shares of Catalyst Pharmaceuticals by 26.2% in the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock valued at $68,000 after buying an additional 579 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 57.2% in the first quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company's stock valued at $133,000 after buying an additional 2,002 shares during the period. Finally, US Bancorp DE grew its position in Catalyst Pharmaceuticals by 17.8% during the first quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company's stock worth $178,000 after buying an additional 1,105 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX traded up $0.31 on Tuesday, hitting $20.07. The stock had a trading volume of 1,465,071 shares, compared to its average volume of 1,463,437. Catalyst Pharmaceuticals, Inc. has a twelve month low of $19.15 and a twelve month high of $26.58. The firm's 50 day moving average price is $20.67 and its 200-day moving average price is $22.34. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85.

Wall Street Analyst Weigh In

Several equities analysts have commented on CPRX shares. Wall Street Zen cut Catalyst Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday. Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Zacks Research cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $33.20.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 115,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $2,332,200.00. Following the transaction, the insider directly owned 949,663 shares in the company, valued at $19,259,165.64. The trade was a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David S. Tierney sold 26,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the sale, the director directly owned 379,620 shares of the company's stock, valued at approximately $7,668,324. The trade was a 6.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,970 shares of company stock valued at $4,927,241. Company insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Company Profile

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.