The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Catalyst Pharmaceuticals Inc. shares valued at $1,214,640 were sold by GRANDE ALICIA on Sep 16. At $13.50 per share, GRANDE ALICIA sold 90,000 shares. The insider’s holdings dropped to 267,442 shares worth approximately $3.26 million following the completion of this transaction.
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Also, Sundaram Preethi sold 18,214 shares, netting a total of over 263,921 in proceeds. Following the sale of shares at $14.49 each, the insider now holds 0 shares.
Before that, GRANDE ALICIA had sold 50,000 shares from its account. In a trade valued at $778,650, the VP, Treasurer and CFO traded Catalyst Pharmaceuticals Inc. shares for $15.57 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $4.36 million.
As published in a research note from ROTH Capital on August 24, 2022, Catalyst Pharmaceuticals Inc. [CPRX] has been rated down from a Buy to a Neutral and the price target has been revised to $15.50 from $10. This represents a 21.29% premium over Thursday’s closing price. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in late September. Earlier on October 05, 2016, Piper Jaffray upgraded its rating. Their new recommendation was “an Overweight” for CPRX stock which previously was a “a Neutral”.
Analyzing CPRX’s Price Performance
On Thursday, Catalyst Pharmaceuticals Inc. [NASDAQ: CPRX] plunged -2.09% to $12.20. The stock’s lowest price that day was $12.02, but it reached a high of $12.53 in the same session. During the last five days, there has been a drop of approximately -10.43%. Over the course of the year, Catalyst Pharmaceuticals Inc. shares have jumped approximately 80.21%. Shares of the company reached a 52-week high of $17.22 on 09/13/22 and a 52-week low of $5.24 on 01/28/22. A 50-day SMA is recorded $12.46, while a 200-day SMA reached $8.50. Nevertheless, trading volume fell to 3.1 million shares from 2.49 million shares the previous day.
Support And Resistance Levels for Catalyst Pharmaceuticals Inc. (CPRX)
According to the 24-hour chart, there is a support level at 11.97, which, if violated, would cause prices to drop to 11.74. In the upper region, resistance lies at 12.48. The next price resistance is at 12.76. RSI (Relative Strength Index) is 39.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.50, which suggests the price will decrease in the coming days. Percent R is at 96.54%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Catalyst Pharmaceuticals Inc. subject to short interest?
Stocks of Catalyst Pharmaceuticals Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.93 million shares to 8.84 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.77 million shares. A decline of -10.52% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.99 of the overall float, the days-to-cover ratio (short ratio) decline to 5.99.
Which companies own the most shares of Catalyst Pharmaceuticals Inc. (CPRX)?
According to Armistice Capital LLC filings, the company currently owns 10,200,000 shares, which is about 9.92% of the total CPRX shares outstanding. The investor’s shares have appreciated by 1,828,000 from its previous 13-F filing of 8372000.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $79,978,099. SSgA Funds Management, Inc. acquire a 17.75% interest valued at $73.62 million while The Vanguard Group, Inc. purchased a 32,489 stake. A total of 326,405 shares of Catalyst Pharmaceuticals Inc. were bought by LSV Asset Management during the quarter, and 1,560,086 were bought by Millennium Management LLC. In its current portfolio, Dimensional Fund Advisors LP holds 2,242,648 shares valued at $30.37 million.