Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 13.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,068,175 shares of the biotechnology company’s stock after selling 310,583 shares during the period. Geode Capital Management LLC owned approximately 1.97% of Corcept Therapeutics worth $104,240,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CORT. Kestra Investment Management LLC purchased a new position in Corcept Therapeutics in the fourth quarter worth approximately $27,000. National Bank of Canada FI purchased a new position in Corcept Therapeutics in the fourth quarter worth approximately $42,000. USA Financial Formulas purchased a new position in Corcept Therapeutics in the fourth quarter worth approximately $54,000. Newbridge Financial Services Group Inc. purchased a new position in Corcept Therapeutics in the fourth quarter worth approximately $58,000. Finally, Principal Securities Inc. lifted its stake in Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 483 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at $8,608,435.88. This trade represents a 53.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.91, for a total transaction of $178,100.84. Following the sale, the chief executive officer now directly owns 3,019,411 shares in the company, valued at $183,912,324.01. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 163,124 shares of company stock worth $15,074,318. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Stock Performance

Shares of CORT opened at $72.97 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The stock has a market capitalization of $7.70 billion, a P/E ratio of 57.91 and a beta of 0.15. The company’s fifty day moving average is $65.66 and its two-hundred day moving average is $57.35. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $117.33.

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 analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $181.89 million during the quarter, compared to analysts’ expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. On average, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CORT shares. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright boosted their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Piper Sandler boosted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. Canaccord Genuity Group boosted their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Finally, Truist Financial boosted their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $143.25.

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.