Corcept Therapeutics Incorporated $CORT Shares Sold by Mitchell Capital Management Co.

Key Points

• Mitchell Capital Management Co. has reduced its stake in Corcept Therapeutics by 12.8%, now holding 55,583 shares valued at approximately $3.94 million.
• Corcept Therapeutics reported $0.29 earnings per share for the last quarter, exceeding expectations and showing an 18.7% increase in revenue year-over-year.
• Insider trading activity includes CEO Joseph K. Belanoff selling 40,000 shares valued at over $3.4 million while corporate insiders collectively sold 304,610 shares in the past 90 days.

Mitchell Capital Management Co. decreased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,583 shares of the biotechnology company's stock after selling 8,164 shares during the period. Mitchell Capital Management Co. owned 0.05% of Corcept Therapeutics worth $3,939,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Corcept Therapeutics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock valued at $243,708,000 after purchasing an additional 57,942 shares during the last quarter. Invesco Ltd. boosted its position in Corcept Therapeutics by 76.5% during the first quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock valued at $142,345,000 after purchasing an additional 540,101 shares during the last quarter. Northern Trust Corp boosted its position in Corcept Therapeutics by 0.6% during the first quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company's stock valued at $116,733,000 after purchasing an additional 6,486 shares during the last quarter. Cerity Partners LLC boosted its position in Corcept Therapeutics by 1.1% during the first quarter. Cerity Partners LLC now owns 614,794 shares of the biotechnology company's stock valued at $70,222,000 after purchasing an additional 6,848 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Corcept Therapeutics by 8,176.0% during the first quarter. Jupiter Asset Management Ltd. now owns 603,903 shares of the biotechnology company's stock valued at $68,978,000 after purchasing an additional 596,606 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $73.96 on Monday. The firm has a market cap of $7.79 billion, a PE ratio of 65.45 and a beta of 0.46. Corcept Therapeutics Incorporated has a one year low of $42.01 and a one year high of $117.33. The stock's 50 day simple moving average is $75.57 and its 200 day simple moving average is $73.31.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, topping 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 business's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CORT shares. Zacks Research cut Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Corcept Therapeutics in a research report on Wednesday, October 8th. 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 research report on Friday, August 1st. Wall Street Zen raised Corcept Therapeutics from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $145.00 price target on shares of Corcept Therapeutics in a research report on Friday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Corcept Therapeutics has an average rating of "Moderate Buy" and an average target price of $135.25.

Insiders Place Their Bets

In other news, CEO Joseph K. Belanoff sold 40,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $85.08, for a total value of $3,403,200.00. Following the completion of the transaction, the chief executive officer owned 2,781,370 shares in the company, valued at $236,638,959.60. This trade represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $72.45, for a total value of $159,390.00. The disclosure for this sale can be found here. Insiders have sold 304,610 shares of company stock worth $22,713,516 over the last 90 days. 20.80% of the stock is currently owned by corporate insiders.

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.

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