KLP Kapitalforvaltning AS Invests $772,000 in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

KLP Kapitalforvaltning AS acquired a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 37,000 shares of the biopharmaceutical company's stock, valued at approximately $772,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in Catalyst Pharmaceuticals in the 4th quarter valued at about $27,000. Farther Finance Advisors LLC grew its holdings in shares of Catalyst Pharmaceuticals by 125.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock valued at $56,000 after purchasing an additional 1,495 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $65,000. KBC Group NV increased its stake in Catalyst Pharmaceuticals by 48.8% during the 4th quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock worth $98,000 after buying an additional 1,542 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Catalyst Pharmaceuticals during the 4th quarter worth approximately $134,000. Hedge funds and other institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Down 4.3 %

CPRX traded down $1.04 on Friday, reaching $23.07. The company's stock had a trading volume of 2,214,834 shares, compared to its average volume of 1,123,378. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $14.47 and a fifty-two week high of $26.16. The stock has a 50 day moving average of $22.78 and a two-hundred day moving average of $21.95.

Remove Ads

Insider Activity

In related news, insider Gary Ingenito sold 44,904 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares of the company's stock, valued at $1,521,404.57. The trade was a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares in the company, valued at approximately $4,333,200.72. This trade represents a 25.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.00% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CPRX. Bank of America restated a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Stephens reissued an "overweight" rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Baird R W raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. StockNews.com upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, HC Wainwright restated a "buy" rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $32.29.

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.