Principal Financial Group Inc. Sells 63,273 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Principal Financial Group Inc. trimmed its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 9.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 575,953 shares of the biopharmaceutical company's stock after selling 63,273 shares during the period. Principal Financial Group Inc. owned 0.48% of Catalyst Pharmaceuticals worth $11,450,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRX. GAMMA Investing LLC increased its position in Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 681 shares during the period. nVerses Capital LLC bought a new position in shares of Catalyst Pharmaceuticals during the 3rd quarter worth approximately $50,000. Larson Financial Group LLC grew its position in shares of Catalyst Pharmaceuticals by 27,218.2% during the 3rd 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 during the period. Meeder Asset Management Inc. bought a new stake in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at $70,000. Finally, Quantbot Technologies LP acquired a new position in shares of Catalyst Pharmaceuticals during the 3rd quarter valued at $151,000. Institutional investors own 79.22% of the company's stock.

Analyst Upgrades and Downgrades

CPRX has been the subject of several research analyst reports. StockNews.com downgraded shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, December 24th. Stephens assumed coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an "overweight" rating and a $35.00 target price for the company. Truist Financial lifted their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $31.14.

Catalyst Pharmaceuticals Stock Down 1.9 %

NASDAQ CPRX traded down $0.40 during trading hours on Monday, reaching $21.07. 432,776 shares of the company were exchanged, compared to its average volume of 1,157,943. Catalyst Pharmaceuticals, Inc. has a 1 year low of $13.12 and a 1 year high of $24.27. The stock has a market capitalization of $2.51 billion, a P/E ratio of 17.86, a P/E/G ratio of 3.35 and a beta of 0.75. The business's 50 day simple moving average is $21.82 and its 200-day simple moving average is $19.63.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Steve Miller sold 50,000 shares of the business's stock in a transaction dated 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 owns 686,996 shares of the company's stock, valued at approximately $15,065,822.28. The trade was a 6.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Ingenito sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the transaction, the insider now owns 51,391 shares in the company, valued at approximately $1,167,603.52. This trade represents a 18.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,500 shares of company stock valued at $1,754,140. 11.00% of the stock is currently owned by corporate insiders.

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.