Deutsche Bank AG Sells 6,565 Shares of Corcept Therapeutics Incorporated $CORT

Key Points

• Deutsche Bank AG reduced its stake in Corcept Therapeutics by 8.9%, now owning about 67,035 shares worth approximately $7.66 million.
• Recent analyst reports indicate a shift in sentiment, with some firms lowering target prices for Corcept's stock while maintaining "buy" ratings, giving it a consensus rating of "Moderate Buy."
• Insiders, including Sean Maduck, sold significant portions of their shares, with a combined total exceeding $16 million in sales over the last ninety days.

Deutsche Bank AG cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,035 shares of the biotechnology company's stock after selling 6,565 shares during the quarter. Deutsche Bank AG owned about 0.06% of Corcept Therapeutics worth $7,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealthspire Advisors LLC bought a new position in Corcept Therapeutics in the first quarter valued at approximately $458,000. Advyzon Investment Management LLC bought a new position in Corcept Therapeutics in the first quarter valued at approximately $217,000. New Age Alpha Advisors LLC boosted its stake in Corcept Therapeutics by 35.7% in the first quarter. New Age Alpha Advisors LLC now owns 4,775 shares of the biotechnology company's stock valued at $545,000 after acquiring an additional 1,255 shares during the last quarter. Bank of Nova Scotia bought a new position in Corcept Therapeutics in the first quarter valued at approximately $203,000. Finally, PNC Financial Services Group Inc. boosted its stake in Corcept Therapeutics by 24.4% in the first quarter. PNC Financial Services Group Inc. now owns 13,190 shares of the biotechnology company's stock valued at $1,507,000 after acquiring an additional 2,584 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Price Performance

Shares of CORT traded up $0.21 during midday trading on Wednesday, hitting $70.40. The stock had a trading volume of 383,503 shares, compared to its average volume of 860,658. The company has a 50 day simple moving average of $71.18 and a two-hundred day simple moving average of $69.37. Corcept Therapeutics Incorporated has a twelve month low of $33.34 and a twelve month high of $117.33. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 62.30 and a beta of 0.20.

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

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $72.30, for a total transaction of $159,060.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sean Maduck sold 35,007 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the sale, the insider directly owned 7,681 shares in the company, valued at $520,694.99. This trade represents a 82.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,215 shares of company stock worth $16,311,201. 20.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.