Richard P Slaughter Associates Inc Sells 54,614 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Richard P Slaughter Associates Inc reduced its holdings in Catalyst Pharmaceuticals by 49.0%, selling 54,614 shares during the second quarter, leaving them with approximately 56,880 shares worth $1,234,000.
• Numerous institutional investors, including Vanguard Group Inc and Goldman Sachs Group Inc, have increased their stakes in Catalyst Pharmaceuticals, reflecting strong institutional interest with over 79.22% of the company's stock now owned by institutional investors.
• Insider trading activity included significant sales by CEO Richard J. Daly and insider Steve Miller, totaling over $4.9 million in shares sold in the last ninety days, indicating potential changes in sentiment among leadership.

Richard P Slaughter Associates Inc cut its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 49.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 56,880 shares of the biopharmaceutical company's stock after selling 54,614 shares during the quarter. Richard P Slaughter Associates Inc's holdings in Catalyst Pharmaceuticals were worth $1,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CPRX. Park Square Financial Group LLC acquired a new position in Catalyst Pharmaceuticals during the 4th quarter worth approximately $29,000. Sound Income Strategies LLC acquired a new position in Catalyst Pharmaceuticals during the 1st quarter worth approximately $64,000. GAMMA Investing LLC boosted its position in Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after acquiring an additional 579 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Catalyst Pharmaceuticals by 57.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company's stock worth $133,000 after acquiring an additional 2,002 shares during the last quarter. Finally, US Bancorp DE boosted its position in Catalyst Pharmaceuticals by 17.8% during the 1st quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company's stock worth $178,000 after acquiring an additional 1,105 shares during the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Brian Elsbernd sold 30,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $20.30, for a total value of $609,000.00. Following the sale, the insider owned 271,039 shares in the company, valued at approximately $5,502,091.70. This represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Daly sold 22,970 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total value of $473,641.40. Following the completion of the sale, the chief executive officer owned 226,794 shares in the company, valued at approximately $4,676,492.28. This trade represents a 9.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,970 shares of company stock worth $4,927,241 in the last quarter. Insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Trading Down 2.2%

Shares of Catalyst Pharmaceuticals stock traded down $0.45 on Friday, reaching $19.95. 735,885 shares of the company were exchanged, compared to its average volume of 1,340,163. 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 $2.44 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.81 and a beta of 0.85. The company has a 50-day moving average of $20.61 and a 200 day moving average of $22.31.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CPRX shares. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Wall Street Zen downgraded Catalyst Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Zacks Research cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $33.20.

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.