Legato Capital Management LLC Makes New Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Legato Capital Management LLC purchased a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 53,652 shares of the biopharmaceutical company's stock, valued at approximately $1,301,000.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $29,000. Sound Income Strategies LLC acquired a new position in shares of Catalyst Pharmaceuticals in the first quarter valued at $64,000. GAMMA Investing LLC raised its stake in shares of Catalyst Pharmaceuticals by 26.2% in the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock valued at $68,000 after purchasing an additional 579 shares in the last quarter. Quarry LP acquired a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at $104,000. Finally, New Vernon Capital Holdings II LLC acquired a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at $122,000. Institutional investors own 79.22% of the company's stock.

Insider Activity

In related news, insider Gary Ingenito sold 200,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $23.68, for a total value of $4,736,000.00. Following the transaction, the insider owned 68,873 shares in the company, valued at $1,630,912.64. This trade represents a 74.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Preethi Sundaram sold 2,324 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 42,681 shares in the company, valued at approximately $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 quarter, insiders sold 247,924 shares of company stock worth $5,879,369. 10.40% of the stock is owned by company insiders.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX stock traded down $0.05 during trading hours on Friday, hitting $20.97. 908,559 shares of the company's stock were exchanged, compared to its average volume of 1,297,321. The stock's 50-day moving average is $22.96 and its 200-day moving average is $22.89. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.85 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.

Analyst Ratings Changes

Separately, Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Six 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, the company has a consensus rating of "Buy" and a consensus price target of $32.83.

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.