Hussman Strategic Advisors Inc. Has $2.04 Million Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Hussman Strategic Advisors Inc. trimmed its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 20.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,000 shares of the biopharmaceutical company's stock after selling 21,000 shares during the quarter. Hussman Strategic Advisors Inc. owned 0.07% of Catalyst Pharmaceuticals worth $2,037,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CPRX. Steward Partners Investment Advisory LLC acquired a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $29,000. Sound Income Strategies LLC purchased a new stake in Catalyst Pharmaceuticals during the 1st quarter valued at about $64,000. Farther Finance Advisors LLC grew its stake in Catalyst Pharmaceuticals by 125.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring an additional 1,495 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 valued at $68,000 after buying an additional 579 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gary Ingenito sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $23.68, for a total transaction of $4,736,000.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Preethi Sundaram sold 2,324 shares of Catalyst Pharmaceuticals stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $26.41, for a total transaction of $61,376.84. Following 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 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.

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 equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $32.83.

Catalyst Pharmaceuticals Stock Down 2.0%

CPRX stock traded down $0.42 during trading on Friday, hitting $21.03. 1,230,712 shares of the company's stock traded hands, compared to its average volume of 1,143,749. Catalyst Pharmaceuticals, Inc. has a 52 week low of $15.34 and a 52 week high of $26.58. The stock has a fifty day moving average price of $23.23 and a two-hundred day moving average price of $22.88. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66.

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.