GSA Capital Partners LLP purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,257 shares of the biotechnology company’s stock, valued at approximately $2,022,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in Corcept Therapeutics by 28.1% in the second quarter. Handelsbanken Fonder AB now owns 36,881 shares of the biotechnology company’s stock worth $3,207,000 after purchasing an additional 8,100 shares in the last quarter. Breakwater Capital Group acquired a new stake in shares of Corcept Therapeutics in the second quarter worth about $246,000. Evanson Financial LLC bought a new stake in shares of Corcept Therapeutics during the 2nd quarter worth about $1,085,000. GAMMA Investing LLC increased its holdings in shares of Corcept Therapeutics by 54.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,640 shares of the biotechnology company’s stock valued at $403,000 after acquiring an additional 1,627 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Corcept Therapeutics by 56.8% during the 1st quarter. Pacer Advisors Inc. now owns 3,184 shares of the biotechnology company’s stock valued at $128,000 after acquiring an additional 1,154 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.
Corcept Therapeutics Stock Performance
NASDAQ CORT opened at $114.47 on Friday. Corcept Therapeutics Incorporated has a twelve month low of $28.66 and a twelve month high of $122.21. The stock has a market capitalization of $12.37 billion, a PE ratio of 272.55 and a beta of 0.45. The stock has a 50-day simple moving average of $93.34 and a 200 day simple moving average of $61.97.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Corcept Therapeutics in a report on Wednesday, June 24th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price target (up from $88.00) on shares of Corcept Therapeutics in a report on Thursday, July 30th. UBS Group set a $135.00 price target on shares of Corcept Therapeutics in a research report on Thursday, May 28th. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Finally, HC Wainwright upped their price objective on shares of Corcept Therapeutics from $95.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $119.17.
Check Out Our Latest Analysis on CORT
Insiders Place Their Bets
In other news, CFO Atabak Mokari sold 80,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $114.71, for a total value of $9,176,800.00. Following the sale, the chief financial officer owned 16,130 shares in the company, valued at approximately $1,850,272.30. This trade represents a 83.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Mahoney sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $84.53, for a total transaction of $1,690,600.00. Following the transaction, the director directly owned 26,147 shares in the company, valued at $2,210,205.91. This trade represents a 43.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 402,876 shares of company stock valued at $35,118,563 in the last three months. 20.70% of the stock is owned by corporate insiders.
Corcept Therapeutics Company Profile
Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.
The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.
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