Voloridge Investment Management LLC Sells 235,393 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Voloridge Investment Management LLC cut its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 531,836 shares of the biopharmaceutical company's stock after selling 235,393 shares during the period. Voloridge Investment Management LLC owned approximately 0.45% of Catalyst Pharmaceuticals worth $11,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $27,000. Farther Finance Advisors LLC grew its position in shares of Catalyst Pharmaceuticals by 125.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 1,495 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Catalyst Pharmaceuticals during the 4th quarter worth about $65,000. KBC Group NV grew its position in shares of Catalyst Pharmaceuticals by 48.8% during the 4th quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock worth $98,000 after buying an additional 1,542 shares during the period. Finally, Quarry LP acquired a new position in shares of Catalyst Pharmaceuticals during the 4th quarter worth about $104,000. Institutional investors own 79.22% of the company's stock.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 44,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $23.63, for a total transaction of $1,039,720.00. Following the sale, the insider now owns 68,873 shares in the company, valued at $1,627,468.99. This represents a 38.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian Elsbernd sold 62,975 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the sale, the insider now owns 188,564 shares in the company, valued at approximately $4,333,200.72. This represents a 25.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,879 shares of company stock worth $8,214,815. Corporate insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX traded up $0.33 during trading on Friday, hitting $24.91. The stock had a trading volume of 735,308 shares, compared to its average volume of 1,103,357. The company has a market capitalization of $3.04 billion, a PE ratio of 21.16, a P/E/G ratio of 3.31 and a beta of 0.70. The company's 50-day moving average price is $23.59 and its two-hundred day moving average price is $22.59. Catalyst Pharmaceuticals, Inc. has a 12 month low of $14.75 and a 12 month high of $26.16.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CPRX shares. Robert W. Baird boosted their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Baird R W upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. HC Wainwright reiterated a "buy" rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Stephens reiterated an "overweight" rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Finally, Wall Street Zen upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $32.29.

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.