Geode Capital Management LLC Reduces Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Geode Capital Management LLC lowered its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,664,424 shares of the biopharmaceutical company’s stock after selling 34,189 shares during the period. Geode Capital Management LLC owned about 2.23% of Catalyst Pharmaceuticals worth $52,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Catalyst Pharmaceuticals by 62.1% during 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 during the period. nVerses Capital LLC purchased a new position in shares of Catalyst Pharmaceuticals during the third quarter worth approximately $50,000. Larson Financial Group LLC increased its holdings in shares of Catalyst Pharmaceuticals by 27,218.2% in the 3rd quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 2,994 shares during the period. Meeder Asset Management Inc. purchased a new stake in Catalyst Pharmaceuticals in the 2nd quarter valued at $70,000. Finally, Quantbot Technologies LP acquired a new stake in Catalyst Pharmaceuticals during the 3rd quarter worth $151,000. 79.22% of the stock is owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Trading Down 0.9 %

NASDAQ CPRX opened at $21.27 on Monday. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 3.35 and a beta of 0.75. The business’s 50 day moving average is $21.77 and its two-hundred day moving average is $19.37. Catalyst Pharmaceuticals, Inc. has a 12-month low of $13.12 and a 12-month high of $24.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stephens assumed coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price for the company. Truist Financial upped their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $31.14.

Insider Buying and Selling

In other news, insider Steve Miller sold 50,000 shares of the business’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 sale, the insider now owns 686,996 shares of the company’s stock, valued at $15,065,822.28. The trade was a 6.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Molly Harper sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was 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. Insiders have sold 79,500 shares of company stock valued at $1,754,140 over the last quarter. Company insiders own 11.00% of the company’s stock.

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.