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

AQR Capital Management LLC trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,591 shares of the biotechnology company's stock after selling 39,364 shares during the quarter. AQR Capital Management LLC owned about 0.26% of Corcept Therapeutics worth $13,937,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC lifted 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 valued at $22,369,000 after buying an additional 262,503 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Corcept Therapeutics during the 4th quarter worth approximately $4,483,000. Burney Co. increased its holdings in Corcept Therapeutics by 9.1% in the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock valued at $23,876,000 after purchasing an additional 39,657 shares during the last quarter. HighTower Advisors LLC raised its position in Corcept Therapeutics by 30.7% in the fourth quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock valued at $4,720,000 after purchasing an additional 22,011 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Corcept Therapeutics by 43.4% during the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock worth $11,712,000 after purchasing an additional 76,573 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Insider Activity

In related news, insider Sean Maduck sold 18,303 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,110,809.07. Following the transaction, the insider now owns 85,622 shares in the company, valued at $5,196,399.18. This trade represents a 17.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William Guyer sold 7,060 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the completion of the sale, the insider now owns 5,487 shares of the company's stock, valued at approximately $407,738.97. This represents a 56.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,738 shares of company stock worth $20,476,238. 20.80% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Down 1.6 %

Corcept Therapeutics stock traded down $1.15 during trading on Friday, reaching $70.23. The stock had a trading volume of 953,391 shares, compared to its average volume of 1,125,124. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 52-week low of $26.53 and a 52-week high of $117.33. The stock has a market cap of $7.45 billion, a PE ratio of 55.74 and a beta of 0.22. The business has a 50 day moving average price of $66.86 and a 200 day moving average price of $60.78.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company's revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. Canaccord Genuity Group increased their price target 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. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a report on Tuesday. StockNews.com upgraded shares of Corcept Therapeutics from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, HC Wainwright dropped their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $138.25.

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.