Summit Global Investments Reduces Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Summit Global Investments trimmed its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 13.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,369 shares of the biopharmaceutical company’s stock after selling 11,333 shares during the quarter. Summit Global Investments’ holdings in Catalyst Pharmaceuticals were worth $1,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new position in Catalyst Pharmaceuticals during the fourth quarter worth $31,000. GAMMA Investing LLC increased its position in Catalyst Pharmaceuticals by 72.9% during the first quarter. GAMMA Investing LLC now owns 1,942 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 819 shares in the last quarter. CWM LLC increased 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 buying an additional 3,549 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Catalyst Pharmaceuticals by 306.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,079 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 3,829 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Catalyst Pharmaceuticals during the first quarter worth $154,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CPRX shares. HC Wainwright raised their price target on Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, June 6th. Truist Financial lifted their price objective on Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup lifted their price objective on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com raised Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Catalyst Pharmaceuticals has an average rating of “Buy” and an average price target of $29.50.

Insider Activity at Catalyst Pharmaceuticals

In related news, CEO Richard J. Daly sold 17,323 shares of Catalyst Pharmaceuticals stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $15.97, for a total value of $276,648.31. Following the transaction, the chief executive officer now owns 234,824 shares in the company, valued at $3,750,139.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Catalyst Pharmaceuticals news, CEO Richard J. Daly sold 17,323 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $15.97, for a total transaction of $276,648.31. Following the transaction, the chief executive officer now owns 234,824 shares in the company, valued at $3,750,139.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary Ingenito sold 80,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $16.16, for a total value of $1,292,800.00. Following the transaction, the insider now owns 51,391 shares in the company, valued at approximately $830,478.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,255 shares of company stock worth $2,441,748. 11.00% of the stock is owned by insiders.

Catalyst Pharmaceuticals Stock Performance

Catalyst Pharmaceuticals stock traded down $0.29 during midday trading on Wednesday, reaching $20.40. The stock had a trading volume of 729,524 shares, compared to its average volume of 1,289,805. Catalyst Pharmaceuticals, Inc. has a twelve month low of $11.55 and a twelve month high of $20.81. The stock has a market capitalization of $2.41 billion, a PE ratio of 36.89 and a beta of 0.70. The stock’s 50-day simple moving average is $16.69 and its 200 day simple moving average is $15.87.

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.