Principal Financial Group Inc. Purchases 17,018 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Principal Financial Group Inc. boosted its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 617,506 shares of the biopharmaceutical company’s stock after acquiring an additional 17,018 shares during the period. Principal Financial Group Inc. owned 0.51% of Catalyst Pharmaceuticals worth $14,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in Catalyst Pharmaceuticals in the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC bought a new position in Catalyst Pharmaceuticals during the fourth quarter worth $29,000. Farther Finance Advisors LLC increased its stake in Catalyst Pharmaceuticals by 125.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 1,495 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Catalyst Pharmaceuticals in the first quarter valued at $64,000. Finally, GAMMA Investing LLC grew its holdings in shares of Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock valued at $68,000 after buying an additional 579 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Down 0.2%

CPRX opened at $21.81 on Friday. The company’s 50-day moving average price is $23.45 and its two-hundred day moving average price is $22.88. Catalyst Pharmaceuticals, Inc. has a twelve month low of $15.34 and a twelve month high of $26.58. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.89 and a beta of 0.66.

Insider Buying and Selling

In related news, insider Preethi Sundaram sold 1,600 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total transaction of $42,272.00. Following the transaction, the insider owned 41,081 shares of the company’s stock, valued at approximately $1,085,360.02. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Ingenito sold 44,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $23.63, for a total transaction of $1,039,720.00. Following the transaction, the insider directly owned 68,873 shares in the company, valued at approximately $1,627,468.99. This represents a 38.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 247,924 shares of company stock worth $5,879,369 in the last ninety days. 10.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Thursday, June 5th. Six research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $32.83.

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.