Capital Fund Management S.A. Decreases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Capital Fund Management S.A. decreased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,006 shares of the biotechnology company’s stock after selling 28,991 shares during the period. Capital Fund Management S.A. owned approximately 0.12% of Corcept Therapeutics worth $6,097,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Corcept Therapeutics during the 4th quarter valued at approximately $42,055,000. Braun Stacey Associates Inc. purchased a new position in shares of Corcept Therapeutics in the fourth quarter valued at $14,935,000. Synergy Asset Management LLC increased its position in Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after purchasing an additional 262,503 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Corcept Therapeutics during the fourth quarter valued at $12,084,000. Finally, Vanguard Group Inc. lifted its position in Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company’s stock valued at $509,726,000 after purchasing an additional 109,294 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $68.62 on Friday. The stock has a 50 day moving average price of $65.72 and a 200 day moving average price of $57.69. The firm has a market capitalization of $7.24 billion, a P/E ratio of 54.46 and a beta of 0.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its 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 for 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%. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, insider Joseph Douglas Lyon sold 421 shares of Corcept Therapeutics stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the sale, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the sale, the insider now directly owns 85,622 shares of the company’s stock, valued at approximately $8,608,435.88. This trade represents a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,924 shares of company stock worth $14,963,130 in the last three months. Corporate insiders own 20.50% of the company’s stock.

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.