Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Short Interest Up 7.2% in November

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 6,090,000 shares, a growth of 7.2% from the November 15th total of 5,680,000 shares. Based on an average trading volume of 957,100 shares, the days-to-cover ratio is presently 6.4 days.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the sale, the insider now owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. This trade represents a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the completion of the transaction, the insider now owns 686,996 shares in the company, valued at approximately $15,065,822.28. This trade represents a 6.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,500 shares of company stock valued at $1,754,140 in the last 90 days. 11.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Catalyst Pharmaceuticals by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,000,756 shares of the biopharmaceutical company’s stock valued at $46,479,000 after purchasing an additional 263,099 shares in the last quarter. Pacer Advisors Inc. grew its position in Catalyst Pharmaceuticals by 130,918.8% in the second quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock worth $45,968,000 after acquiring an additional 2,965,310 shares in the last quarter. Renaissance Technologies LLC increased its stake in Catalyst Pharmaceuticals by 15.2% during the second quarter. Renaissance Technologies LLC now owns 2,175,727 shares of the biopharmaceutical company’s stock worth $33,702,000 after acquiring an additional 287,300 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Catalyst Pharmaceuticals by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock valued at $23,215,000 after purchasing an additional 50,804 shares during the period. Finally, Mesirow Institutional Investment Management Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 29.9% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 934,234 shares of the biopharmaceutical company’s stock valued at $14,471,000 after purchasing an additional 215,130 shares during the last quarter. 79.22% of the stock is currently owned by institutional investors.

Catalyst Pharmaceuticals Stock Up 2.2 %

CPRX traded up $0.48 during trading on Tuesday, hitting $22.13. The company’s stock had a trading volume of 1,061,813 shares, compared to its average volume of 1,166,837. Catalyst Pharmaceuticals has a one year low of $13.12 and a one year high of $24.27. The business’s 50 day simple moving average is $21.65 and its 200-day simple moving average is $19.22. The firm has a market cap of $2.64 billion, a PE ratio of 18.83, a P/E/G ratio of 3.35 and a beta of 0.75.

Analysts Set New Price Targets

Several research analysts have commented on CPRX shares. Truist Financial upped their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Finally, Stephens assumed coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $31.14.

Catalyst Pharmaceuticals Company 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.