Mesirow Institutional Investment Management Inc. Reduces Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Mesirow Institutional Investment Management Inc. lowered its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 742,295 shares of the biopharmaceutical company's stock after selling 58,503 shares during the period. Catalyst Pharmaceuticals makes up about 1.2% of Mesirow Institutional Investment Management Inc.'s holdings, making the stock its 29th biggest position. Mesirow Institutional Investment Management Inc. owned 0.62% of Catalyst Pharmaceuticals worth $15,492,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Catalyst Pharmaceuticals in the 4th quarter valued at about $2,437,000. Canada Pension Plan Investment Board bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at $1,244,000. XTX Topco Ltd lifted its position in Catalyst Pharmaceuticals by 38.9% in the 4th quarter. XTX Topco Ltd now owns 26,802 shares of the biopharmaceutical company's stock valued at $559,000 after acquiring an additional 7,508 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Catalyst Pharmaceuticals during the fourth quarter valued at approximately $766,000. Finally, Summit Investment Advisors Inc. lifted its stake in Catalyst Pharmaceuticals by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company's stock valued at $244,000 after acquiring an additional 580 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors.

Catalyst Pharmaceuticals Stock Performance

Shares of Catalyst Pharmaceuticals stock traded up $0.20 during trading on Friday, hitting $23.39. The company's stock had a trading volume of 285,612 shares, compared to its average volume of 1,105,554. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $26.16. The company has a market capitalization of $2.85 billion, a PE ratio of 19.80, a P/E/G ratio of 3.31 and a beta of 0.79. The company has a fifty day simple moving average of $22.57 and a two-hundred day simple moving average of $22.16.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CPRX shares. Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. HC Wainwright restated a "buy" rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Bank of America reissued a "buy" rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Robert W. Baird upped their price target on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Finally, Stephens reiterated an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Seven 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, Catalyst Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $32.29.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares in the company, valued at $4,333,200.72. This represents a 25.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the sale, the insider now directly owns 68,873 shares of the company's stock, valued at approximately $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.40% of the company's stock.

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.