Principal Financial Group Inc. Has $11.45 Million Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Principal Financial Group Inc. cut its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 9.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 575,953 shares of the biopharmaceutical company’s stock after selling 63,273 shares during the quarter. Principal Financial Group Inc. owned 0.49% of Catalyst Pharmaceuticals worth $11,450,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in 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 acquiring an additional 681 shares during the period. nVerses Capital LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter worth about $50,000. CWM LLC raised its stake in shares of Catalyst Pharmaceuticals by 686.5% during the 2nd quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 3,549 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter worth about $70,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter worth about $153,000. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, 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 value of $301,500.00. Following the sale, the director now owns 348,874 shares of the company’s stock, valued at $7,012,367.40. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steve Miller sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 675,124 shares in the company, valued at $13,738,773.40. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRX has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Truist Financial raised their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup raised 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. Finally, StockNews.com raised Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note 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 stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $30.50.

Catalyst Pharmaceuticals Stock Down 5.0 %

CPRX opened at $20.60 on Monday. The firm has a market capitalization of $2.46 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 3.17 and a beta of 0.75. The stock’s 50 day moving average price is $20.99 and its two-hundred day moving average price is $18.37. Catalyst Pharmaceuticals, Inc. has a 12-month low of $13.00 and a 12-month 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.