Aviva PLC Sells 6,371 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Aviva PLC lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 36.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,956 shares of the biotechnology company's stock after selling 6,371 shares during the period. Aviva PLC's holdings in Corcept Therapeutics were worth $552,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Synergy Asset Management LLC grew its position in Corcept Therapeutics by 131.3% during 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 period. Van ECK Associates Corp bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $4,483,000. State Street Corp increased its stake in shares of Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Burney Co. raised its holdings in shares of Corcept Therapeutics by 9.1% in the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock worth $23,876,000 after purchasing an additional 39,657 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock valued at $11,712,000 after purchasing an additional 76,573 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

Insiders Place Their Bets

In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sean Maduck sold 100,000 shares of the 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 transaction, the insider now owns 85,622 shares of the company's stock, valued at approximately $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,124 shares of company stock valued at $15,117,614 in the last quarter. Insiders own 20.50% of the company's stock.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock traded down $1.74 on Thursday, hitting $62.86. 398,088 shares of the company traded hands, compared to its average volume of 1,124,954. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $117.33. The firm's 50-day simple moving average is $65.66 and its 200 day simple moving average is $58.08. The company has a market cap of $6.63 billion, a P/E ratio of 49.98 and a beta of 0.15. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $181.89 million during the quarter, compared to analysts' expectations of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. Analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CORT shares. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. Truist Financial raised their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 31st. 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 report on Monday, March 31st. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Piper Sandler upped their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $143.25.

Corcept Therapeutics Company 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.