Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Short Interest Update

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 6,680,000 shares, a growth of 12.5% from the December 31st total of 5,940,000 shares. Based on an average daily volume of 975,100 shares, the short-interest ratio is currently 6.9 days.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 686,996 shares in the company, valued at $15,065,822.28. This represents a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Ingenito sold 12,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 51,391 shares of the company’s stock, valued at $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. Over the last 90 days, insiders sold 79,500 shares of company stock worth $1,754,140. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of CPRX. Pacer Advisors Inc. grew its holdings in Catalyst Pharmaceuticals by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company’s stock worth $61,681,000 after purchasing an additional 151,495 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock worth $23,215,000 after buying an additional 50,804 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 600,488 shares of the biopharmaceutical company’s stock worth $12,532,000 after buying an additional 24,535 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Catalyst Pharmaceuticals by 87.1% in the second quarter. AQR Capital Management LLC now owns 488,386 shares of the biopharmaceutical company’s stock worth $7,565,000 after buying an additional 227,321 shares in the last quarter. Finally, abrdn plc bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth approximately $10,115,000. 79.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CPRX shares. StockNews.com cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Truist Financial increased their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Stephens started coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 price target for the company. Bank of America reiterated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Finally, HC Wainwright increased their price target on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $32.86.

Catalyst Pharmaceuticals Price Performance

Catalyst Pharmaceuticals stock traded up $0.06 during mid-day trading on Monday, hitting $22.62. The company’s stock had a trading volume of 1,218,631 shares, compared to its average volume of 1,468,708. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.80. The business has a 50 day moving average price of $22.01 and a 200-day moving average price of $20.79. Catalyst Pharmaceuticals has a 12 month low of $13.12 and a 12 month high of $24.64.

Catalyst Pharmaceuticals Company 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.