Renaissance Group LLC Invests $4.23 Million in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Renaissance Group LLC bought a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 202,760 shares of the biopharmaceutical company's stock, valued at approximately $4,232,000. Renaissance Group LLC owned approximately 0.17% of Catalyst Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CPRX. Renaissance Technologies LLC lifted its stake in Catalyst Pharmaceuticals by 7.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,706,116 shares of the biopharmaceutical company's stock valued at $56,477,000 after buying an additional 180,100 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Catalyst Pharmaceuticals by 2.9% during the fourth quarter. Legal & General Group Plc now owns 344,623 shares of the biopharmaceutical company's stock valued at $7,192,000 after acquiring an additional 9,741 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Catalyst Pharmaceuticals by 6.2% in the fourth quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company's stock valued at $311,000 after acquiring an additional 875 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Catalyst Pharmaceuticals by 222.1% in the fourth quarter. Federated Hermes Inc. now owns 174,390 shares of the biopharmaceutical company's stock worth $3,640,000 after acquiring an additional 120,249 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Catalyst Pharmaceuticals by 1.4% during the fourth quarter. Russell Investments Group Ltd. now owns 176,259 shares of the biopharmaceutical company's stock worth $3,679,000 after purchasing an additional 2,471 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company's stock.

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Catalyst Pharmaceuticals Stock Up 2.8 %

Shares of Catalyst Pharmaceuticals stock traded up $0.60 during mid-day trading on Friday, hitting $22.05. The stock had a trading volume of 1,108,745 shares, compared to its average volume of 1,143,616. The firm has a 50-day moving average of $22.63 and a two-hundred day moving average of $22.02. The firm has a market cap of $2.68 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 12-month low of $14.47 and a 12-month high of $26.16.

Insider Buying and Selling

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

Analyst Ratings Changes

CPRX has been the topic of a number of research reports. StockNews.com upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th. HC Wainwright reissued a "buy" rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Baird R W raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. Stephens reissued an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Finally, Robert W. Baird boosted their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $32.29.

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.