Teacher Retirement System of Texas Sells 2,766 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Teacher Retirement System of Texas cut its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,889 shares of the biopharmaceutical company’s stock after selling 2,766 shares during the quarter. Teacher Retirement System of Texas’ holdings in Catalyst Pharmaceuticals were worth $701,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth $37,494,000. Bank of America Corp DE grew its position in shares of Catalyst Pharmaceuticals by 139.5% in the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock valued at $32,741,000 after purchasing an additional 913,843 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Catalyst Pharmaceuticals by 131.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock worth $14,570,000 after purchasing an additional 396,506 shares during the last quarter. Vanguard Group Inc. increased its position in Catalyst Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock worth $175,957,000 after buying an additional 390,116 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $6,887,000. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Stock Down 3.1%

NASDAQ CPRX opened at $20.95 on Wednesday. The company has a 50-day moving average price of $23.35 and a 200-day moving average price of $22.89. Catalyst Pharmaceuticals, Inc. has a 52 week low of $15.34 and a 52 week high of $26.58. The firm has a market capitalization of $2.56 billion, a P/E ratio of 13.34, a PEG ratio of 0.88 and a beta of 0.66.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,000 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $23.63, for a total value of $1,039,720.00. Following the completion of the transaction, the insider directly owned 68,873 shares in the company, valued at approximately $1,627,468.99. The trade was a 38.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Preethi Sundaram sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total transaction of $42,272.00. Following the completion of the sale, the insider owned 41,081 shares in the company, valued at $1,085,360.02. This represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 247,924 shares of company stock valued at $5,879,369. 10.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, June 5th. Six investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.