Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Free Report) insider Sean Maduck sold 30,955 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $125.58, for a total value of $3,887,328.90. Following the transaction, the insider owned 9,755 shares of the company’s stock, valued at approximately $1,225,032.90. This trade represents a 76.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Sean Maduck also recently made the following trade(s):
- On Friday, August 14th, Sean Maduck sold 3,664 shares of Corcept Therapeutics stock. The shares were sold at an average price of $114.49, for a total value of $419,491.36.
- On Monday, August 10th, Sean Maduck sold 1,031 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.52, for a total transaction of $118,070.12.
- On Monday, August 3rd, Sean Maduck sold 20,305 shares of Corcept Therapeutics stock. The stock was sold at an average price of $114.70, for a total transaction of $2,328,983.50.
- On Wednesday, July 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $88.35, for a total transaction of $2,208,750.00.
- On Monday, June 1st, Sean Maduck sold 25,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.21, for a total transaction of $1,755,250.00.
Corcept Therapeutics Price Performance
Shares of Corcept Therapeutics stock opened at $113.88 on Friday. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38. The firm has a fifty day moving average price of $101.17 and a two-hundred day moving average price of $67.37. The company has a market cap of $12.31 billion, a PE ratio of 271.15 and a beta of 0.45.
Institutional Trading of Corcept Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CORT. Corient Private Wealth LP lifted its stake in Corcept Therapeutics by 108.4% during the second quarter. Corient Private Wealth LP now owns 12,198 shares of the biotechnology company’s stock worth $1,061,000 after purchasing an additional 6,345 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Corcept Therapeutics during the second quarter valued at approximately $2,311,000. California State Teachers Retirement System grew its stake in shares of Corcept Therapeutics by 8,572.7% in the 2nd quarter. California State Teachers Retirement System now owns 9,611,888 shares of the biotechnology company’s stock valued at $835,754,000 after purchasing an additional 9,501,059 shares during the period. Wedmont Private Capital bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $288,000. Finally, HB Wealth Management LLC bought a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $451,000. Institutional investors own 93.61% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CORT. UBS Group set a $135.00 price target on Corcept Therapeutics in a research note on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective (up from $88.00) on shares of Corcept Therapeutics in a research report on Thursday, July 30th. Weiss Ratings raised Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $138.17.
Read Our Latest Report on Corcept Therapeutics
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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