Bryce Point Capital LLC Decreases Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Key Points

• Bryce Point Capital LLC reduced its stake in Catalyst Pharmaceuticals by 62.1%, selling 33,750 shares and now holding 20,608 shares valued at approximately $507,000.
• Catalyst Pharmaceuticals received a "strong-buy" rating from Cantor Fitzgerald, with six analysts rating the stock as a buy and an average target price of $32.83.
• Insider trading activity has seen significant sales, with insider Gary Ingenito selling 200,000 shares for about $4.74 million, representing a 74.38% decrease in ownership.

Bryce Point Capital LLC lowered its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 62.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,608 shares of the biopharmaceutical company's stock after selling 33,750 shares during the quarter. Bryce Point Capital LLC's holdings in Catalyst Pharmaceuticals were worth $507,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Park Square Financial Group LLC bought a new position in Catalyst Pharmaceuticals during the 4th quarter worth about $29,000. Sound Income Strategies LLC bought a new position in shares of Catalyst Pharmaceuticals in the 1st quarter valued at about $64,000. GAMMA Investing LLC grew its holdings in Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after purchasing an additional 579 shares during the period. Quarry LP bought a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $104,000. Finally, New Vernon Capital Holdings II LLC acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $122,000. Institutional investors and hedge funds own 79.22% of the company's stock.

Catalyst Pharmaceuticals Price Performance

Catalyst Pharmaceuticals stock traded up $0.21 during mid-day trading on Tuesday, hitting $21.01. The company's stock had a trading volume of 1,259,729 shares, compared to its average volume of 1,291,004. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.85 and a beta of 0.66. The business has a 50 day moving average price of $22.88 and a 200-day moving average price of $22.89. Catalyst Pharmaceuticals, Inc. has a 12 month low of $15.34 and a 12 month high of $26.58.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 44,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $23.63, for a total transaction of $1,039,720.00. Following the sale, the insider owned 68,873 shares in the company, valued at $1,627,468.99. This represents a 38.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Preethi Sundaram sold 1,600 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total transaction of $42,272.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 247,924 shares of company stock worth $5,879,369 over the last ninety days. Insiders own 10.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Six research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $32.83.

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.