XTX Topco Ltd Invests $688,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

XTX Topco Ltd purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,657 shares of the biotechnology company's stock, valued at approximately $688,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Corcept Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after buying an additional 109,294 shares in the last quarter. Parallel Advisors LLC raised its stake in Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after purchasing an additional 15,908 shares during the last quarter. Geode Capital Management LLC raised its stake in Corcept Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company's stock valued at $110,108,000 after purchasing an additional 99,470 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock valued at $82,889,000 after purchasing an additional 64,321 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Corcept Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock valued at $52,988,000 after purchasing an additional 25,073 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Up 4.2 %

CORT traded up $2.72 during trading hours on Wednesday, reaching $67.40. 240,159 shares of the stock traded hands, compared to its average volume of 1,394,520. The firm's fifty day simple moving average is $65.11 and its two-hundred day simple moving average is $58.64. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 53.49 and a beta of 0.15. Corcept Therapeutics Incorporated has a fifty-two week low of $22.00 and a fifty-two week high of $117.33. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, analysts forecast that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CORT has been the subject of several analyst reports. HC Wainwright boosted their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Truist Financial boosted their target price on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 31st. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Piper Sandler boosted their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.25.

Insiders Place Their Bets

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 2,924 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total transaction of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares of the company's stock, valued at $183,912,324.01. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Insiders sold a total of 163,124 shares of company stock valued at $15,117,614 in the last ninety days. 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.