Banque Pictet & Cie SA Invests $561,000 in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Banque Pictet & Cie SA purchased a new position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,121 shares of the biopharmaceutical company's stock, valued at approximately $561,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Catalyst Pharmaceuticals by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock worth $175,957,000 after acquiring an additional 390,116 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,706,116 shares of the biopharmaceutical company's stock valued at $56,477,000 after purchasing an additional 180,100 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $37,494,000. Bank of America Corp DE lifted its holdings in shares of 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 valued at $32,741,000 after purchasing an additional 913,843 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Catalyst Pharmaceuticals by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,503,566 shares of the biopharmaceutical company's stock valued at $31,379,000 after purchasing an additional 119,766 shares in the last quarter. Institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Trading Down 0.9%

Shares of CPRX traded down $0.19 on Monday, reaching $21.62. 1,191,306 shares of the company's stock traded hands, compared to its average volume of 1,135,076. The stock has a market cap of $2.64 billion, a PE ratio of 13.77, a PEG ratio of 0.89 and a beta of 0.66. The stock's 50 day simple moving average is $23.45 and its two-hundred day simple moving average is $22.90. Catalyst Pharmaceuticals, Inc. has a 52-week low of $15.34 and a 52-week high of $26.58.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 1,600 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total value of $42,272.00. Following the completion of the sale, the insider directly owned 41,081 shares of the company's stock, valued at $1,085,360.02. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary Ingenito sold 44,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $23.63, for a total value of $1,039,720.00. Following the completion of the sale, the insider directly owned 68,873 shares of the company's stock, valued at $1,627,468.99. This represents a 38.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 247,924 shares of company stock valued at $5,879,369 over the last three months. Company insiders own 10.40% of the company's stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald upgraded 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.