Cache Advisors LLC Invests $378,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cache Advisors LLC bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,500 shares of the biotechnology company's stock, valued at approximately $378,000.

A number of other large investors have also recently made changes to their positions in CORT. Ballentine Partners LLC purchased a new stake in shares of Corcept Therapeutics during the fourth quarter worth approximately $200,000. Nisa Investment Advisors LLC grew its stake in shares of Corcept Therapeutics by 8.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company's stock worth $537,000 after purchasing an additional 814 shares during the period. Inspire Investing LLC acquired a new position in shares of Corcept Therapeutics during the 4th quarter worth $807,000. Linden Thomas Advisory Services LLC grew its stake in shares of Corcept Therapeutics by 2.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 63,224 shares of the biotechnology company's stock worth $3,186,000 after purchasing an additional 1,300 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Corcept Therapeutics by 47.8% during the 4th quarter. Blue Trust Inc. now owns 17,225 shares of the biotechnology company's stock worth $797,000 after purchasing an additional 5,567 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider William Guyer sold 32,262 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $74.17, for a total value of $2,392,872.54. Following the completion of the transaction, the insider now owns 5,487 shares in the company, valued at $406,970.79. This trade represents a 85.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 2,924 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 296,352 shares of company stock worth $24,908,205. 20.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on CORT shares. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Truist Financial set a $135.00 price target on Corcept Therapeutics in a research note on Tuesday, May 6th. HC Wainwright cut their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Piper Sandler lifted their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday, April 3rd. Finally, Canaccord Genuity Group boosted their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.25.

Corcept Therapeutics Stock Performance

NASDAQ CORT traded down $1.88 during trading hours on Tuesday, hitting $76.81. The company had a trading volume of 1,599,843 shares, compared to its average volume of 1,132,227. Corcept Therapeutics Incorporated has a fifty-two week low of $28.04 and a fifty-two week high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $71.01 and a 200-day simple moving average of $62.82. The firm has a market cap of $8.15 billion, a P/E ratio of 60.96 and a beta of 0.22.

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

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.