Bank of New York Mellon Corp Has $17.22 Million Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Bank of New York Mellon Corp cut its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 709,925 shares of the biopharmaceutical company's stock after selling 13,620 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of Catalyst Pharmaceuticals worth $17,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRX. Castlekeep Investment Advisors LLC purchased a new position in shares of Catalyst Pharmaceuticals in the 4th quarter worth $37,494,000. Bank of America Corp DE grew its stake in Catalyst Pharmaceuticals by 139.5% in the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock worth $32,741,000 after purchasing an additional 913,843 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Catalyst Pharmaceuticals by 131.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock valued at $14,570,000 after acquiring an additional 396,506 shares during the period. Vanguard Group Inc. raised its holdings in shares of 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. bought a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $6,887,000. 79.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Catalyst Pharmaceuticals Price Performance

CPRX stock traded down $0.42 during midday trading on Friday, hitting $21.03. The company's stock had a trading volume of 1,230,712 shares, compared to its average volume of 1,146,224. Catalyst Pharmaceuticals, Inc. has a twelve month low of $15.34 and a twelve month high of $26.58. The company's fifty day moving average price is $23.23 and its 200 day moving average price is $22.89. The stock has a market capitalization of $2.57 billion, a P/E ratio of 13.39, a PEG ratio of 0.86 and a beta of 0.66.

Insider Buying and Selling

In other news, insider Preethi Sundaram sold 2,324 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total value of $61,376.84. Following the completion of the sale, the insider owned 42,681 shares in the company, valued at $1,127,205.21. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Ingenito sold 200,000 shares of Catalyst Pharmaceuticals stock in a transaction dated 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 completion of the sale, the insider directly owned 68,873 shares in the company, 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 have sold 247,924 shares of company stock valued at $5,879,369. 10.40% of the stock is owned by corporate insiders.

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.