Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 381,800 shares of the biotechnology company’s stock after selling 75,300 shares during the period. Two Sigma Advisers LP owned 0.36% of Corcept Therapeutics worth $19,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CORT. Ballentine Partners LLC purchased a new position in shares of Corcept Therapeutics in the 4th quarter valued at $200,000. Nisa Investment Advisors LLC grew its holdings in shares of Corcept Therapeutics by 8.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company’s stock worth $537,000 after purchasing an additional 814 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth about $807,000. Linden Thomas Advisory Services LLC lifted its holdings in shares of Corcept Therapeutics by 2.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 63,224 shares of the biotechnology company’s stock valued at $3,186,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Corcept Therapeutics by 47.8% in the 4th quarter. Blue Trust Inc. now owns 17,225 shares of the biotechnology company’s stock valued at $797,000 after purchasing an additional 5,567 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the transaction, the insider now owns 9,009 shares in the company, valued at approximately $545,765.22. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Maduck sold 18,303 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the transaction, the insider now directly owns 85,622 shares of the company’s stock, valued at approximately $5,196,399.18. This trade represents a 17.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 296,352 shares of company stock valued at $24,908,205 over the last quarter. Corporate insiders own 20.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CORT shares. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research report on Tuesday, May 6th. HC Wainwright cut their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Piper Sandler upped their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $138.25.

Corcept Therapeutics Trading Down 0.6%

NASDAQ:CORT opened at $75.80 on Thursday. Corcept Therapeutics Incorporated has a 12-month low of $27.30 and a 12-month high of $117.33. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $69.78 and its 200-day simple moving average is $62.20. The firm has a market cap of $8.04 billion, a P/E ratio of 60.16 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $157.21 million for the quarter, compared to analysts’ expectations of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.