Jacobs Levy Equity Management Inc. Sells 406,554 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Catalyst Pharmaceuticals by 44.5%, now owning approximately 0.42% of the company, worth $12.3 million.
• A total of 79.22% of Catalyst Pharmaceuticals' stock is owned by institutional investors, with several firms increasing their holdings in the company during the first quarter.
• Despite a mixed bag of analyst ratings, Catalyst Pharmaceuticals currently holds an average rating of "Buy" and a consensus price target of $33.20.

Jacobs Levy Equity Management Inc. cut its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 44.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 506,445 shares of the biopharmaceutical company's stock after selling 406,554 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.42% of Catalyst Pharmaceuticals worth $12,281,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CPRX. Susquehanna International Group LLP increased its position in shares of Catalyst Pharmaceuticals by 2.4% during the fourth quarter. Susquehanna International Group LLP now owns 99,213 shares of the biopharmaceutical company's stock worth $2,071,000 after buying an additional 2,291 shares during the period. Northern Trust Corp increased its position in shares of Catalyst Pharmaceuticals by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,503,566 shares of the biopharmaceutical company's stock worth $31,379,000 after buying an additional 119,766 shares during the period. Algert Global LLC increased its position in shares of Catalyst Pharmaceuticals by 185.2% during the fourth quarter. Algert Global LLC now owns 47,920 shares of the biopharmaceutical company's stock worth $1,000,000 after buying an additional 31,115 shares during the period. Ameriprise Financial Inc. increased its position in shares of Catalyst Pharmaceuticals by 1.9% during the fourth quarter. Ameriprise Financial Inc. now owns 282,834 shares of the biopharmaceutical company's stock worth $5,903,000 after buying an additional 5,177 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Catalyst Pharmaceuticals by 139.5% during the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock worth $32,741,000 after buying an additional 913,843 shares during the period. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 115,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $2,332,200.00. Following the transaction, the insider directly owned 949,663 shares of the company's stock, valued at approximately $19,259,165.64. This trade represents a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Tierney sold 26,000 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $20.20, for a total transaction of $525,200.00. Following the completion of the transaction, the director directly owned 379,620 shares in the company, valued at $7,668,324. This trade represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,970 shares of company stock valued at $4,927,241 over the last ninety days. 10.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CPRX. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Zacks Research lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $33.20.

Catalyst Pharmaceuticals Stock Performance

Shares of Catalyst Pharmaceuticals stock traded down $0.00 during trading hours on Friday, reaching $20.25. The company's stock had a trading volume of 353,529 shares, compared to its average volume of 1,338,437. Catalyst Pharmaceuticals, Inc. has a one year low of $19.15 and a one year high of $26.58. The company has a market capitalization of $2.48 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.79 and a beta of 0.85. The stock's fifty day simple moving average is $20.74 and its two-hundred day simple moving average is $22.37.

Catalyst Pharmaceuticals 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.