Catalyst Pharmaceuticals, Inc. $CPRX Shares Sold by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc trimmed its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 53.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,300 shares of the biopharmaceutical company’s stock after selling 20,250 shares during the period. Yorktown Management & Research Co Inc’s holdings in Catalyst Pharmaceuticals were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in shares of Catalyst Pharmaceuticals by 7.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 31,173 shares of the biopharmaceutical company’s stock worth $676,000 after buying an additional 2,284 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Catalyst Pharmaceuticals in the 2nd quarter valued at $273,000. Convergence Investment Partners LLC acquired a new stake in Catalyst Pharmaceuticals in the 2nd quarter valued at $1,191,000. Ashton Thomas Private Wealth LLC increased its holdings in Catalyst Pharmaceuticals by 23.0% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 16,011 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Catalyst Pharmaceuticals by 29.9% during the second quarter. Envestnet Asset Management Inc. now owns 101,607 shares of the biopharmaceutical company’s stock valued at $2,205,000 after acquiring an additional 23,412 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Richard J. Daly sold 22,970 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total transaction of $473,641.40. Following the sale, the chief executive officer owned 226,794 shares of the company’s stock, valued at approximately $4,676,492.28. The trade was a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steve Miller sold 115,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $2,332,200.00. Following the sale, the insider directly owned 949,663 shares in the company, valued at approximately $19,259,165.64. This trade represents a 10.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 243,970 shares of company stock worth $4,927,241. 10.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRX has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Finally, Zacks Research cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $33.20.

Catalyst Pharmaceuticals Trading Down 0.1%

CPRX opened at $21.36 on Wednesday. The business’s 50 day moving average is $20.38 and its 200-day moving average is $21.86. The stock has a market cap of $2.61 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.85 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a twelve month low of $19.05 and a twelve month high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its quarterly earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. The company had revenue of $53.11 million for the quarter. Catalyst Pharmaceuticals had a return on equity of 40.78% and a net margin of 37.36%. As a group, analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current year.

Catalyst Pharmaceuticals announced that its Board of Directors has approved a stock buyback program on Wednesday, October 1st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the biopharmaceutical company to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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.