13,400 Shares in Corcept Therapeutics Incorporated $CORT Purchased by Strs Ohio

Key Points

• Strs Ohio acquired 13,400 shares of Corcept Therapeutics, totaling approximately $1.53 million, as part of its investment strategy in the biotechnology sector.
• Insider trading activity includes CEO Joseph K. Belanoff selling 40,000 shares at an average price of $68.53, reducing his ownership in the company by 1.38%.
• Corcept Therapeutics reported a 29% increase in EPS for the quarter, surpassing estimates, but revenue fell short of analyst expectations, showing mixed financial results.

Strs Ohio acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,400 shares of the biotechnology company's stock, valued at approximately $1,531,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG grew its holdings in shares of Corcept Therapeutics by 48.5% during the fourth quarter. Deutsche Bank AG now owns 73,600 shares of the biotechnology company's stock valued at $3,709,000 after buying an additional 24,051 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Corcept Therapeutics by 7.6% in the 4th quarter. Lazard Asset Management LLC now owns 20,000 shares of the biotechnology company's stock valued at $1,006,000 after acquiring an additional 1,410 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Corcept Therapeutics by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,033 shares of the biotechnology company's stock valued at $2,320,000 after acquiring an additional 1,790 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Corcept Therapeutics by 43.8% in the 4th quarter. ProShare Advisors LLC now owns 24,596 shares of the biotechnology company's stock valued at $1,239,000 after buying an additional 7,489 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $283,000. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $70.49, for a total value of $1,409,800.00. Following the sale, the insider directly owned 7,681 shares in the company, valued at $541,433.69. This trade represents a 72.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $70.49, for a total transaction of $1,409,800.00. Following the completion of the sale, the insider owned 5,487 shares in the company, valued at $386,778.63. This trade represents a 78.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,215 shares of company stock valued at $15,572,699 over the last ninety days. Insiders own 20.80% of the company's stock.

Corcept Therapeutics Trading Up 0.9%

Shares of Corcept Therapeutics stock traded up $0.72 during mid-day trading on Friday, reaching $80.52. 3,109,817 shares of the stock were exchanged, compared to its average volume of 724,700. Corcept Therapeutics Incorporated has a fifty-two week low of $40.62 and a fifty-two week high of $117.33. The firm has a 50-day simple moving average of $71.14 and a 200 day simple moving average of $70.18. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 71.26 and a beta of 0.29.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. The business had revenue of $194.43 million for the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. Corcept Therapeutics's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CORT. Piper Sandler lowered their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Corcept Therapeutics has an average rating of "Buy" and an average price target of $135.25.

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.