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

Bank of New York Mellon Corp trimmed its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CPRX. Park Square Financial Group LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth $29,000. Farther Finance Advisors LLC lifted its stake 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 worth $56,000 after acquiring an additional 1,495 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the 1st quarter worth $64,000. GAMMA Investing LLC lifted its stake in shares of 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. Finally, Quarry LP acquired a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth $104,000. 79.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gary Ingenito sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $23.68, for a total value of $4,736,000.00. Following the completion of the sale, the insider directly owned 68,873 shares of the company's stock, valued at $1,630,912.64. This represents a 74.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Preethi Sundaram sold 2,324 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 42,681 shares in the company, valued at approximately $1,127,205.21. The trade was a 5.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,924 shares of company stock valued at $5,879,369. Insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Catalyst Pharmaceuticals Stock Down 0.5%

Catalyst Pharmaceuticals stock traded down $0.11 during trading hours on Tuesday, hitting $20.90. 1,311,465 shares of the company traded hands, compared to its average volume of 1,148,408. The firm has a market cap of $2.55 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.86 and a beta of 0.66. The firm's 50-day simple moving average is $23.12 and its two-hundred day simple moving average is $22.89. Catalyst Pharmaceuticals, Inc. has a 1-year low of $15.34 and a 1-year high of $26.58.

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.