Russell Investments Group Ltd. Trims Holdings in Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Russell Investments Group Ltd. reduced its stake in Catalyst Pharmaceuticals by 19.6%, now holding 141,753 shares valued at approximately $3.44 million.
• Other institutional investors like Vanguard Group Inc. and Bank of America increased their investments, with Vanguard's stake now worth over $206 million.
• Analysts have downgraded Catalyst Pharmaceuticals from a "strong-buy" to a "hold" rating, while the stock maintains a consensus rating of "Buy" with an average target price of $33.20.

Russell Investments Group Ltd. decreased its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 19.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 141,753 shares of the biopharmaceutical company's stock after selling 34,506 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Catalyst Pharmaceuticals worth $3,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Catalyst Pharmaceuticals by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,495,580 shares of the biopharmaceutical company's stock valued at $206,018,000 after purchasing an additional 64,486 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at $37,494,000. Bank of America Corp DE raised its position in Catalyst Pharmaceuticals by 139.5% in the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock valued at $32,741,000 after purchasing an additional 913,843 shares during the period. Northern Trust Corp raised its position in Catalyst Pharmaceuticals by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,503,566 shares of the biopharmaceutical company's stock valued at $31,379,000 after purchasing an additional 119,766 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Catalyst Pharmaceuticals by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,326,771 shares of the biopharmaceutical company's stock valued at $32,174,000 after purchasing an additional 79,846 shares during the period. Hedge funds and other institutional investors own 79.22% of the company's stock.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Preethi Sundaram sold 1,600 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total transaction of $42,272.00. Following the completion of the transaction, the insider directly owned 41,081 shares of the company's stock, valued at $1,085,360.02. The trade was a 3.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

CPRX has been the topic of a number of research analyst reports. Zacks Research downgraded Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Wall Street Zen downgraded Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $33.20.

Catalyst Pharmaceuticals Trading Up 2.5%

Shares of NASDAQ CPRX opened at $21.08 on Friday. Catalyst Pharmaceuticals, Inc. has a twelve month low of $19.00 and a twelve month high of $26.58. The stock has a fifty day simple moving average of $21.29 and a 200-day simple moving average of $22.60. The stock has a market capitalization of $2.58 billion, a PE ratio of 12.78, a PEG ratio of 0.86 and a beta of 0.70.

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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