Hussman Strategic Advisors Inc. reduced its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 124,000 shares of the biotechnology company's stock after selling 15,500 shares during the quarter. Hussman Strategic Advisors Inc. owned approximately 0.12% of Corcept Therapeutics worth $3,179,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CORT. Federated Hermes Inc. boosted its stake in Corcept Therapeutics by 16.8% in the 2nd quarter. Federated Hermes Inc. now owns 5,537,000 shares of the biotechnology company's stock valued at $131,670,000 after purchasing an additional 796,580 shares during the period. Parallel Advisors LLC raised its holdings in Corcept Therapeutics by 39.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,718,328 shares of the biotechnology company's stock valued at $64,642,000 after acquiring an additional 774,009 shares in the last quarter. BlackRock Inc. raised its holdings in Corcept Therapeutics by 2.5% in the 1st quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company's stock valued at $347,366,000 after acquiring an additional 376,774 shares in the last quarter. Franklin Resources Inc. acquired a new position in Corcept Therapeutics in the 2nd quarter valued at $6,047,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Corcept Therapeutics by 402.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 266,300 shares of the biotechnology company's stock valued at $6,333,000 after acquiring an additional 213,300 shares in the last quarter. 80.08% of the stock is currently owned by institutional investors.
Get Corcept Therapeutics alerts:Insider Buying and Selling
In other Corcept Therapeutics news, insider Gary Charles Robb sold 4,814 shares of the company's stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total value of $125,308.42. Following the sale, the insider now owns 21,329 shares in the company, valued at approximately $555,193.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Sean Maduck sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $25.57, for a total transaction of $639,250.00. Following the transaction, the insider now directly owns 56,462 shares of the company's stock, valued at approximately $1,443,733.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Charles Robb sold 4,814 shares of the company's stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total value of $125,308.42. Following the transaction, the insider now directly owns 21,329 shares in the company, valued at $555,193.87. The disclosure for this sale can be found here. Insiders have sold 40,439 shares of company stock worth $1,040,958 in the last 90 days. Insiders own 18.60% of the company's stock.
Corcept Therapeutics Stock Up 2.7 %
Shares of CORT stock opened at $22.44 on Tuesday. The firm has a market capitalization of $2.42 billion, a P/E ratio of 22.44 and a beta of 0.60. Corcept Therapeutics Incorporated has a twelve month low of $16.47 and a twelve month high of $30.14. The stock's fifty day simple moving average is $22.82 and its 200 day simple moving average is $25.50.Corcept Therapeutics (NASDAQ:CORT – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. The business had revenue of $101.73 million for the quarter, compared to analyst estimates of $107.73 million. Corcept Therapeutics had a return on equity of 27.49% and a net margin of 29.37%. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.89 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have recently commented on CORT. StockNews.com raised Corcept Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Tuesday, December 27th. HC Wainwright lowered their price target on Corcept Therapeutics from $33.00 to $30.00 and set a "buy" rating for the company in a report on Friday, December 9th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $31.25.
Corcept Therapeutics Company Profile
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Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
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