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

Principal Financial Group Inc. decreased its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 575,953 shares of the biopharmaceutical company's stock after selling 63,273 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Catalyst Pharmaceuticals worth $11,450,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CPRX. GAMMA Investing LLC raised its stake in shares of Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock worth $35,000 after purchasing an additional 681 shares in the last quarter. nVerses Capital LLC acquired a new position in Catalyst Pharmaceuticals during the third quarter worth $50,000. CWM LLC raised its position in Catalyst Pharmaceuticals by 686.5% during the second quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company's stock worth $63,000 after acquiring an additional 3,549 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Catalyst Pharmaceuticals in the second quarter valued at $70,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at about $153,000. Institutional investors own 79.22% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 150,000 shares of the business's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total value of $3,052,500.00. Following the completion of the sale, the insider now owns 675,124 shares of the company's stock, valued at $13,738,773.40. The trade was a 18.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David S. Tierney sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total transaction of $301,500.00. Following the transaction, the director now directly owns 348,874 shares in the company, valued at $7,012,367.40. This represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX traded up $0.22 on Monday, reaching $20.82. The stock had a trading volume of 1,123,971 shares, compared to its average volume of 1,196,407. The company has a market cap of $2.48 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 3.17 and a beta of 0.75. The firm has a fifty day moving average of $20.99 and a two-hundred day moving average of $18.37. Catalyst Pharmaceuticals, Inc. has a 1-year low of $13.00 and a 1-year high of $24.27.

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.