Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Short Interest Up 7.2% in November

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 6,090,000 shares, an increase of 7.2% from the November 15th total of 5,680,000 shares. Based on an average daily volume of 957,100 shares, the days-to-cover ratio is currently 6.4 days.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value of $272,640.00. Following the completion of the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve Miller sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total value of $1,096,500.00. Following the transaction, the insider now directly owns 686,996 shares in the company, valued at approximately $15,065,822.28. This represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,500 shares of company stock valued at $1,754,140. 11.00% of the stock is owned by corporate insiders.

Institutional Trading of Catalyst Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Catalyst Pharmaceuticals by 62.1% during the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 681 shares during the period. nVerses Capital LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at approximately $50,000. Larson Financial Group LLC raised its position in Catalyst Pharmaceuticals by 27,218.2% during the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 2,994 shares in the last quarter. CWM LLC lifted its stake in Catalyst Pharmaceuticals by 686.5% in the second quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 3,549 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at about $70,000. Institutional investors own 79.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CPRX shares. Truist Financial boosted their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Finally, Stephens began coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $31.14.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX traded up $0.42 during trading on Tuesday, reaching $22.07. The company had a trading volume of 1,641,117 shares, compared to its average volume of 1,169,408. Catalyst Pharmaceuticals has a twelve month low of $13.12 and a twelve month high of $24.27. The firm has a market capitalization of $2.63 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.75. The firm’s fifty day moving average is $21.65 and its 200 day moving average is $19.22.

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.