PDT Partners LLC Makes New Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

PDT Partners LLC bought a new position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 19,634 shares of the biopharmaceutical company’s stock, valued at approximately $390,000.

Several other hedge funds also recently bought and sold shares of CPRX. California State Teachers Retirement System raised its holdings in Catalyst Pharmaceuticals by 4.3% in the first quarter. California State Teachers Retirement System now owns 106,357 shares of the biopharmaceutical company’s stock worth $1,695,000 after purchasing an additional 4,346 shares during the period. Comerica Bank raised its holdings in Catalyst Pharmaceuticals by 9.4% in the first quarter. Comerica Bank now owns 51,157 shares of the biopharmaceutical company’s stock worth $815,000 after purchasing an additional 4,377 shares during the period. Virtu Financial LLC acquired a new stake in Catalyst Pharmaceuticals in the first quarter worth $191,000. Cetera Advisors LLC acquired a new stake in Catalyst Pharmaceuticals in the first quarter worth $401,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Catalyst Pharmaceuticals during the first quarter worth $2,764,000. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX opened at $21.71 on Wednesday. The firm has a 50-day moving average of $21.32 and a 200-day moving average of $18.87. Catalyst Pharmaceuticals, Inc. has a one year low of $13.00 and a one year high of $24.27. The company has a market cap of $2.59 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75.

Analyst Ratings Changes

A number of brokerages recently commented on CPRX. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Stephens began coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Citigroup raised their target price on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Truist Financial raised their target price on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $31.14.

Insider Activity

In other news, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total transaction of $385,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Ingenito sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the sale, the insider now owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

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.