MetLife Investment Management LLC Trims Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

MetLife Investment Management LLC decreased its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,674 shares of the biopharmaceutical company’s stock after selling 3,663 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of Catalyst Pharmaceuticals worth $1,266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in Catalyst Pharmaceuticals by 62.1% in 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 in the last quarter. nVerses Capital LLC purchased a new stake in Catalyst Pharmaceuticals in the third quarter worth about $50,000. Larson Financial Group LLC increased its position in Catalyst Pharmaceuticals by 27,218.2% in the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 2,994 shares in the last quarter. CWM LLC increased its position in Catalyst Pharmaceuticals by 686.5% in the second quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 3,549 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Catalyst Pharmaceuticals in the second quarter worth about $70,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Insider Activity

In other news, insider Gary Ingenito sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 directly owns 51,391 shares of the company’s stock, valued at $1,167,603.52. This trade represents a 18.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total value of $385,000.00. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Trading Up 1.5 %

Shares of Catalyst Pharmaceuticals stock opened at $22.02 on Friday. The stock has a 50 day moving average of $21.45 and a 200 day moving average of $18.95. Catalyst Pharmaceuticals, Inc. has a 12 month low of $13.00 and a 12 month high of $24.27. The firm has a market cap of $2.63 billion, a PE ratio of 18.66, a PEG ratio of 3.31 and a beta of 0.75.

Analyst Ratings Changes

CPRX has been the subject of several research analyst reports. Stephens initiated coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Truist Financial increased their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup increased their target price on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.14.

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.