Versor Investments LP Sells 12,600 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Versor Investments LP reduced its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 50.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,200 shares of the biotechnology company’s stock after selling 12,600 shares during the quarter. Versor Investments LP’s holdings in Corcept Therapeutics were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock worth $162,871,000 after acquiring an additional 19,893 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Corcept Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after buying an additional 99,470 shares in the last quarter. FMR LLC grew its stake in shares of Corcept Therapeutics by 24.6% in the third quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after buying an additional 269,074 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Corcept Therapeutics by 40.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after buying an additional 352,947 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Corcept Therapeutics by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock valued at $47,506,000 after buying an additional 53,191 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Trading Up 1.2 %

Shares of Corcept Therapeutics stock opened at $60.58 on Friday. The business has a fifty day simple moving average of $59.78 and a two-hundred day simple moving average of $51.22. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $75.00. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 48.08 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the completion of the sale, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total value of $130,812.00. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock valued at $1,399,576 in the last quarter. 20.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Corcept Therapeutics in a research note on Thursday. Piper Sandler raised their target price on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Canaccord Genuity Group raised their target price on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $99.75.

Corcept Therapeutics Profile

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.