Capital Fund Management S.A. Decreases Stock Holdings in Corcept Therapeutics Incorporated $CORT

Key Points

• Capital Fund Management S.A. reduced its holdings in Corcept Therapeutics by 10.6%, selling 12,867 shares and now owning 108,139 shares valued at approximately $12.35 million.
• Insider transactions showed significant sales, with CEO Joseph K. Belanoff selling 40,000 shares for about $2.74 million, representing a 1.38% decrease in his ownership.
• Corcept Therapeutics reported a quarterly revenue increase of 18.7% year-over-year, with an EPS of $0.29, surpassing analysts' expectations.

Capital Fund Management S.A. decreased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 108,139 shares of the biotechnology company's stock after selling 12,867 shares during the period. Capital Fund Management S.A. owned about 0.10% of Corcept Therapeutics worth $12,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mariner LLC boosted its position in Corcept Therapeutics by 13.6% during the 4th quarter. Mariner LLC now owns 13,362 shares of the biotechnology company's stock valued at $673,000 after buying an additional 1,601 shares during the period. Guggenheim Capital LLC purchased a new stake in Corcept Therapeutics during the 4th quarter valued at $281,000. Jump Financial LLC purchased a new stake in Corcept Therapeutics during the 4th quarter valued at $718,000. Canada Pension Plan Investment Board purchased a new stake in Corcept Therapeutics during the 4th quarter valued at $40,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in Corcept Therapeutics by 17.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 104,734 shares of the biotechnology company's stock valued at $5,271,000 after buying an additional 15,838 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,823 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $67.51, for a total value of $393,110.73. Following the transaction, the insider owned 10,066 shares of the company's stock, valued at $679,555.66. This represents a 36.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Guyer sold 35,007 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $71.77, for a total value of $2,512,452.39. Following the completion of the sale, the insider owned 5,487 shares of the company's stock, valued at $393,801.99. This represents a 86.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,215 shares of company stock worth $16,311,201. Insiders own 20.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CORT shares. Canaccord Genuity Group dropped their price target on Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Piper Sandler reduced their price target on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Truist Financial set a $135.00 price target on Corcept Therapeutics in a report on Tuesday, May 6th. Wall Street Zen downgraded Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, HC Wainwright reduced their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $134.50.

Corcept Therapeutics Trading Up 0.3%

Shares of NASDAQ CORT traded up $0.17 during trading hours on Tuesday, hitting $68.99. 192,100 shares of the company traded hands, compared to its average volume of 1,307,238. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 61.03 and a beta of 0.20. The company's 50 day moving average price is $71.14 and its 200 day moving average price is $69.45. Corcept Therapeutics Incorporated has a 12 month low of $33.34 and a 12 month high of $117.33.

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

About Corcept Therapeutics

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.