Short Interest in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Grows By 213.4%

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 6,910,250 shares, a growth of 213.4% from the June 15th total of 2,204,864 shares. Currently, 9.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,801,699 shares, the days-to-cover ratio is currently 3.8 days.

Separately, Zacks Investment Research raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Monday, May 22nd.

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Catalyst Pharmaceuticals during the first quarter valued at approximately $746,000. Geode Capital Management LLC increased its stake in shares of Catalyst Pharmaceuticals by 0.3% in the first quarter. Geode Capital Management LLC now owns 462,677 shares of the biopharmaceutical company’s stock valued at $902,000 after buying an additional 1,446 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Catalyst Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,007,935 shares of the biopharmaceutical company’s stock valued at $5,865,000 after buying an additional 15,600 shares in the last quarter. Knott David M bought a new stake in shares of Catalyst Pharmaceuticals during the first quarter valued at approximately $554,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Catalyst Pharmaceuticals during the first quarter valued at approximately $155,000. 30.09% of the stock is owned by institutional investors and hedge funds.

Shares of Catalyst Pharmaceuticals (NASDAQ CPRX) opened at 2.67 on Wednesday. Catalyst Pharmaceuticals has a 52-week low of $0.68 and a 52-week high of $3.16. The company’s 50-day moving average price is $2.59 and its 200-day moving average price is $1.78. The stock’s market cap is $223.71 million.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Analysts expect that Catalyst Pharmaceuticals will post ($0.26) earnings per share for the current year.

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Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, formerly Catalyst Pharmaceutical Partners, Inc, is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.