Principal Financial Group Inc. Reduces Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Principal Financial Group Inc. cut its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 575,953 shares of the biopharmaceutical company’s stock after selling 63,273 shares during the period. Principal Financial Group Inc.’s holdings in Catalyst Pharmaceuticals were worth $11,450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter valued at approximately $1,185,000. Susquehanna Fundamental Investments LLC acquired a new stake in Catalyst Pharmaceuticals during the second quarter worth $258,000. Integral Health Asset Management LLC purchased a new stake in Catalyst Pharmaceuticals in the second quarter valued at $4,260,000. GSA Capital Partners LLP acquired a new position in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at $625,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Catalyst Pharmaceuticals during the 3rd quarter worth $708,000. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Truist Financial upped their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Stephens began coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $31.14.

Insider Buying and Selling

In other news, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the completion of the transaction, the insider now directly owns 686,996 shares of the company’s stock, valued at $15,065,822.28. This represents a 6.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary Ingenito sold 12,000 shares of the 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 approximately $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,500 shares of company stock worth $1,754,140 in the last three months. 11.00% of the stock is owned by corporate insiders.

Catalyst Pharmaceuticals Stock Down 2.0 %

Shares of NASDAQ:CPRX opened at $21.47 on Monday. The company has a market cap of $2.56 billion, a PE ratio of 18.19, a P/E/G ratio of 3.35 and a beta of 0.75. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $13.12 and a fifty-two week high of $24.27. The firm has a 50-day simple moving average of $21.82 and a 200 day simple moving average of $19.59.

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.