Capital Fund Management S.A. Sells 28,991 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Capital Fund Management S.A. decreased its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,006 shares of the biotechnology company's stock after selling 28,991 shares during the quarter. Capital Fund Management S.A. owned 0.12% of Corcept Therapeutics worth $6,097,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stifel Financial Corp boosted its stake in shares of Corcept Therapeutics by 30.0% in the 3rd quarter. Stifel Financial Corp now owns 88,967 shares of the biotechnology company's stock valued at $4,117,000 after purchasing an additional 20,546 shares in the last quarter. State Street Corp increased its holdings in shares of Corcept Therapeutics by 0.6% during the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after buying an additional 19,893 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Corcept Therapeutics in the 3rd quarter worth approximately $302,000. MML Investors Services LLC bought a new stake in Corcept Therapeutics during the 3rd quarter worth approximately $317,000. Finally, Geode Capital Management LLC increased its holdings in Corcept Therapeutics by 4.4% during 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 in the last quarter. 93.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CORT has been the topic of several research analyst reports. Piper Sandler increased 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. StockNews.com downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright raised their price target 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. Truist Financial increased their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Finally, 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 note on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $143.25.

Corcept Therapeutics Trading Down 3.7 %

Shares of CORT stock traded down $2.36 during trading hours on Friday, reaching $62.24. The company had a trading volume of 1,579,046 shares, compared to its average volume of 1,130,130. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year 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. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 49.40 and a beta of 0.15. The company has a 50 day moving average of $65.55 and a 200 day moving average of $58.19.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced 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). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $181.89 million during the quarter, compared to analyst estimates of $200.12 million. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Douglas Lyon sold 421 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $60.58, for a total transaction of $25,504.18. Following the sale, the insider now owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,124 shares of company stock valued at $15,117,614 in the last quarter. Company insiders own 20.50% of the company's stock.

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.