Jacobs Levy Equity Management Inc. Cuts Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Jacobs Levy Equity Management Inc. trimmed its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 21.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,057,390 shares of the biopharmaceutical company's stock after selling 284,174 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.89% of Catalyst Pharmaceuticals worth $21,021,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of 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 last quarter. nVerses Capital LLC acquired a new position in Catalyst Pharmaceuticals in the third quarter valued at $50,000. Larson Financial Group LLC lifted its holdings 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 valued at $60,000 after buying an additional 2,994 shares during the period. CWM LLC lifted its holdings in Catalyst Pharmaceuticals by 686.5% in the second quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company's stock valued at $63,000 after buying an additional 3,549 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Catalyst Pharmaceuticals in the second quarter valued at $70,000. 79.22% of the stock is owned by institutional investors.

Insider Activity at Catalyst Pharmaceuticals

In other news, Director Molly Harper sold 17,500 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total value of $385,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $272,640.00. Following the completion of the transaction, the insider now directly owns 51,391 shares in the company, valued at approximately $1,167,603.52. The trade was a 18.93 % decrease in their position. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CPRX has been the topic of several research reports. Citigroup upped their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a "buy" rating in a report on Friday, August 9th. Truist Financial boosted their target price on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 9th. Finally, Stephens began coverage on shares of Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an "overweight" rating and a $35.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $31.14.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX traded down $0.26 during midday trading on Thursday, reaching $21.70. The company's stock had a trading volume of 679,179 shares, compared to its average volume of 1,182,085. Catalyst Pharmaceuticals, Inc. has a 12-month low of $13.00 and a 12-month high of $24.27. The firm has a 50 day moving average price of $21.36 and a 200-day moving average price of $18.89. The stock has a market capitalization of $2.59 billion, a P/E ratio of 18.61, a PEG ratio of 3.31 and a beta of 0.75.

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.