Skandinaviska Enskilda Banken AB publ Purchases 55,000 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Catalyst Pharmaceuticals by 7.5%, acquiring an additional 55,000 shares, bringing its total ownership to 786,900 shares valued at approximately $19.08 million.
• The stock received a "strong-buy" rating from Cantor Fitzgerald, with an average price target of $32.83, reflecting positive analyst sentiment.
• Insider transactions show significant selling activity, including sales by executives that accounted for a total of 247,924 shares valued at nearly $5.88 million over the past 90 days.

Skandinaviska Enskilda Banken AB publ increased its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786,900 shares of the biopharmaceutical company's stock after acquiring an additional 55,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.65% of Catalyst Pharmaceuticals worth $19,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Castlekeep Investment Advisors LLC purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at about $37,494,000. Bank of America Corp DE boosted its holdings in shares of Catalyst Pharmaceuticals by 139.5% during the 4th quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock valued at $32,741,000 after acquiring an additional 913,843 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Catalyst Pharmaceuticals by 397.8% during the 1st quarter. Allianz Asset Management GmbH now owns 694,125 shares of the biopharmaceutical company's stock valued at $16,833,000 after acquiring an additional 554,674 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Catalyst Pharmaceuticals by 131.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock valued at $14,570,000 after acquiring an additional 396,506 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Catalyst Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock valued at $175,957,000 after acquiring an additional 390,116 shares during the last quarter. 79.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Preethi Sundaram sold 2,324 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total value of $61,376.84. Following the transaction, the insider owned 42,681 shares of the company's stock, valued at approximately $1,127,205.21. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Ingenito sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $23.68, for a total transaction of $4,736,000.00. Following the completion of the transaction, the insider directly owned 68,873 shares in the company, valued at approximately $1,630,912.64. The trade was a 74.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 247,924 shares of company stock worth $5,879,369. 10.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Catalyst Pharmaceuticals Price Performance

Shares of CPRX traded up $0.48 on Wednesday, reaching $21.50. The company's stock had a trading volume of 353,639 shares, compared to its average volume of 1,284,271. The stock has a market capitalization of $2.62 billion, a P/E ratio of 13.68, a PEG ratio of 0.85 and a beta of 0.66. The stock's 50 day simple moving average is $22.81 and its two-hundred day simple moving average is $22.87. Catalyst Pharmaceuticals, Inc. has a 12-month low of $15.34 and a 12-month high of $26.58.

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.