Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Shares Sold by Ikarian Capital LLC

Ikarian Capital LLC cut its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 19.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,850 shares of the biopharmaceutical company’s stock after selling 100,536 shares during the period. Catalyst Pharmaceuticals accounts for 1.1% of Ikarian Capital LLC’s holdings, making the stock its 16th largest position. Ikarian Capital LLC owned about 0.35% of Catalyst Pharmaceuticals worth $8,307,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in Catalyst Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,733 shares of the biopharmaceutical company’s stock worth $461,000 after buying an additional 654 shares during the last quarter. GAMMA Investing LLC boosted its stake in Catalyst Pharmaceuticals by 62.1% during the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 681 shares during the last quarter. XTX Topco Ltd boosted its stake in Catalyst Pharmaceuticals by 7.5% during the second quarter. XTX Topco Ltd now owns 11,134 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 773 shares during the last quarter. Strategic Advocates LLC boosted its stake in Catalyst Pharmaceuticals by 6.5% during the second quarter. Strategic Advocates LLC now owns 14,142 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 864 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Catalyst Pharmaceuticals by 1.3% during the second quarter. Sei Investments Co. now owns 84,458 shares of the biopharmaceutical company’s stock worth $1,308,000 after buying an additional 1,098 shares during the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Stock Performance

Shares of Catalyst Pharmaceuticals stock traded down $0.53 during trading hours on Tuesday, hitting $22.00. The company’s stock had a trading volume of 92,704 shares, compared to its average volume of 1,181,883. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 3.40 and a beta of 0.75. Catalyst Pharmaceuticals, Inc. has a twelve month low of $13.00 and a twelve month high of $24.27. The firm has a fifty day moving average of $21.30 and a 200-day moving average of $18.83.

Insider Activity at Catalyst Pharmaceuticals

In related news, Director Molly Harper sold 17,500 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Ingenito sold 12,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value of $272,640.00. Following the completion of the sale, the insider now owns 51,391 shares in the company, valued at $1,167,603.52. This represents a 18.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CPRX shares. StockNews.com raised Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Truist Financial boosted their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Stephens initiated coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, Citigroup upped their price target on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $31.14.

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.