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 lessened its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 49.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,495,580 shares of the biopharmaceutical company's stock worth $206,018,000 after purchasing an additional 64,486 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 11.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company's stock worth $76,035,000 after purchasing an additional 333,100 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,326,771 shares of the biopharmaceutical company's stock worth $32,174,000 after purchasing an additional 79,846 shares during the period. Nuveen Asset Management LLC increased its stake in Catalyst Pharmaceuticals by 14.5% in the fourth quarter. Nuveen Asset Management LLC now owns 1,304,391 shares of the biopharmaceutical company's stock valued at $27,223,000 after acquiring an additional 165,249 shares during the period. Finally, Invesco Ltd. increased its stake in Catalyst Pharmaceuticals by 41.7% in the first quarter. Invesco Ltd. now owns 1,199,627 shares of the biopharmaceutical company's stock valued at $29,091,000 after acquiring an additional 352,776 shares during the period. Institutional investors own 79.22% of the company's stock.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 115,000 shares of the business's stock in a transaction dated 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 in the company, valued at $19,259,165.64. The trade was a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard J. Daly sold 22,970 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total transaction of $473,641.40. Following the transaction, the chief executive officer owned 226,794 shares in the company, valued at $4,676,492.28. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,970 shares of company stock valued at $4,927,241 in the last ninety days. 10.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Catalyst Pharmaceuticals Stock Down 1.4%

NASDAQ:CPRX opened at $19.97 on Monday. The firm has a market cap of $2.44 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. Catalyst Pharmaceuticals, Inc. has a 12 month low of $19.15 and a 12 month high of $26.58. The company's 50-day moving average price is $20.70 and its two-hundred day moving average price is $22.38.

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.

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