Sierra Summit Advisors LLC Acquires New Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Key Points

• Sierra Summit Advisors LLC has acquired a new position in Catalyst Pharmaceuticals, buying 26,478 shares valued at approximately $642,000 during the first quarter.
• Insiders at Catalyst Pharmaceuticals have sold significant shares recently, totaling 247,924 shares valued at $5.88 million in the last ninety days.
• Analyst ratings for Catalyst Pharmaceuticals vary, with Cantor Fitzgerald upgrading the stock to a "strong-buy" while Wall Street Zen downgraded it to a "hold."

Sierra Summit Advisors LLC bought a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 26,478 shares of the biopharmaceutical company's stock, valued at approximately $642,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LPL Financial LLC increased its holdings in Catalyst Pharmaceuticals by 38.0% in the fourth quarter. LPL Financial LLC now owns 57,983 shares of the biopharmaceutical company's stock valued at $1,210,000 after purchasing an additional 15,961 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Catalyst Pharmaceuticals by 80.3% in the fourth quarter. JPMorgan Chase & Co. now owns 736,197 shares of the biopharmaceutical company's stock valued at $15,364,000 after buying an additional 327,936 shares during the period. Norges Bank acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at about $1,915,000. Pictet Asset Management Holding SA raised its position in shares of Catalyst Pharmaceuticals by 27.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,969 shares of the biopharmaceutical company's stock worth $333,000 after acquiring an additional 3,431 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Catalyst Pharmaceuticals by 76.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,349 shares of the biopharmaceutical company's stock worth $404,000 after acquiring an additional 8,367 shares during the period. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Preethi Sundaram sold 1,600 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total transaction of $42,272.00. Following the transaction, the insider owned 41,081 shares in the company, valued at approximately $1,085,360.02. This represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Ingenito sold 44,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $23.63, for a total value of $1,039,720.00. Following the completion of the sale, the insider directly owned 68,873 shares of the company's stock, valued at $1,627,468.99. The trade was a 38.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 247,924 shares of company stock valued at $5,879,369. Insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Up 1.1%

NASDAQ:CPRX opened at $19.86 on Friday. Catalyst Pharmaceuticals, Inc. has a twelve month low of $17.58 and a twelve month high of $26.58. The company has a fifty day moving average of $22.26 and a 200-day moving average of $22.79. The firm has a market capitalization of $2.42 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.80 and a beta of 0.70.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Wall Street Zen lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.