Penserra Capital Management LLC Takes $2.20 Million Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Penserra Capital Management LLC bought a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 90,552 shares of the biopharmaceutical company's stock, valued at approximately $2,195,000. Penserra Capital Management LLC owned about 0.07% of Catalyst Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CPRX. Bank of New York Mellon Corp lifted its holdings in shares of Catalyst Pharmaceuticals by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 723,545 shares of the biopharmaceutical company's stock valued at $15,100,000 after purchasing an additional 9,194 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at approximately $339,000. Steward Partners Investment Advisory LLC purchased a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. raised its position in Catalyst Pharmaceuticals by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,246,925 shares of the biopharmaceutical company's stock valued at $26,023,000 after purchasing an additional 79,182 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Catalyst Pharmaceuticals by 1.6% in the 4th quarter. Victory Capital Management Inc. now owns 296,080 shares of the biopharmaceutical company's stock valued at $6,179,000 after purchasing an additional 4,575 shares during the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Catalyst Pharmaceuticals Trading Down 0.2%

Shares of Catalyst Pharmaceuticals stock traded down $0.04 during trading hours on Friday, hitting $21.81. 1,402,938 shares of the company were exchanged, compared to its average volume of 1,133,787. Catalyst Pharmaceuticals, Inc. has a 1 year low of $15.34 and a 1 year high of $26.58. The business has a 50-day moving average of $23.45 and a 200-day moving average of $22.88. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 0.89 and a beta of 0.66.

Insider Activity

In other news, insider Preethi Sundaram sold 2,324 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 42,681 shares of the company's stock, valued at approximately $1,127,205.21. This represents a 5.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Ingenito sold 200,000 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 68,873 shares of the company's stock, valued at $1,630,912.64. The trade was a 74.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 247,924 shares of company stock valued at $5,879,369 over the last three months. 10.40% of the stock is currently owned by corporate insiders.

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.