Bank of New York Mellon Corp Lowers Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Bank of New York Mellon Corp lowered its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,925 shares of the biopharmaceutical company’s stock after selling 13,620 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of Catalyst Pharmaceuticals worth $17,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth approximately $29,000. Sound Income Strategies LLC bought a new stake in Catalyst Pharmaceuticals in the first quarter worth $64,000. Farther Finance Advisors LLC boosted its holdings 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 worth $56,000 after acquiring an additional 1,495 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Catalyst Pharmaceuticals by 26.2% in the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 579 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth $104,000. 79.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Catalyst Pharmaceuticals Price Performance

Shares of CPRX stock opened at $21.03 on Friday. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The business has a fifty day moving average of $23.23 and a 200 day moving average of $22.88. Catalyst Pharmaceuticals, Inc. has a 1 year low of $15.34 and a 1 year high of $26.58.

Insider Transactions at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 200,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $23.68, for a total value of $4,736,000.00. Following the completion of the transaction, the insider owned 68,873 shares in the company, valued at $1,630,912.64. The trade was a 74.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Preethi Sundaram sold 2,324 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $26.41, for a total value of $61,376.84. Following the transaction, the insider owned 42,681 shares in the company, valued at approximately $1,127,205.21. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 247,924 shares of company stock valued at $5,879,369 in the last quarter. Company insiders own 10.40% of the company’s stock.

Catalyst Pharmaceuticals 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.