Clark Estates Inc. NY Trims Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Clark Estates Inc. NY reduced its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 27.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,418 shares of the biopharmaceutical company's stock after selling 51,325 shares during the period. Catalyst Pharmaceuticals accounts for 0.7% of Clark Estates Inc. NY's portfolio, making the stock its 17th largest position. Clark Estates Inc. NY owned approximately 0.11% of Catalyst Pharmaceuticals worth $3,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Park Square Financial Group LLC bought a new stake in Catalyst Pharmaceuticals in the 4th quarter worth approximately $29,000. Sound Income Strategies LLC purchased a new stake in Catalyst Pharmaceuticals during the 1st quarter valued at $64,000. GAMMA Investing LLC raised its stake in Catalyst Pharmaceuticals by 26.2% during the 1st 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 last quarter. Quarry LP purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at $104,000. Finally, New Vernon Capital Holdings II LLC purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at $122,000. Hedge funds and other institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

NASDAQ:CPRX traded up $0.27 during trading hours on Wednesday, reaching $21.28. The stock had a trading volume of 1,002,300 shares, compared to its average volume of 1,196,739. The stock has a market capitalization of $2.60 billion, a PE ratio of 13.55, a PEG ratio of 0.86 and a beta of 0.66. Catalyst Pharmaceuticals, Inc. has a 52 week low of $15.34 and a 52 week high of $26.58. The company has a 50 day moving average price of $22.81 and a two-hundred day moving average price of $22.87.

Insiders Place Their Bets

In related news, insider Gary Ingenito sold 200,000 shares of the stock in a transaction dated 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 transaction, the insider owned 68,873 shares of the company's stock, valued at approximately $1,630,912.64. This trade represents a 74.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $61,376.84. Following the completion of the sale, the insider directly owned 42,681 shares of the company's stock, valued at $1,127,205.21. The trade was a 5.16% 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 valued at $5,879,369 over the last three months. Corporate 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 investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and a consensus 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.