Man Group plc Sells 62,653 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Man Group plc trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 287,880 shares of the biotechnology company's stock after selling 62,653 shares during the quarter. Man Group plc owned 0.27% of Corcept Therapeutics worth $14,506,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in CORT. Ballentine Partners LLC acquired a new position in Corcept Therapeutics in the fourth quarter worth about $200,000. Nisa Investment Advisors LLC raised its stake in Corcept Therapeutics by 8.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,665 shares of the biotechnology company's stock worth $537,000 after acquiring an additional 814 shares during the period. Inspire Investing LLC bought a new stake in shares of Corcept Therapeutics in the 4th quarter worth approximately $807,000. Linden Thomas Advisory Services LLC grew its stake in 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 buying an additional 1,300 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Corcept Therapeutics by 47.8% in the fourth quarter. Blue Trust Inc. now owns 17,225 shares of the biotechnology company's stock worth $797,000 after buying an additional 5,567 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Down 0.6%

CORT stock traded down $0.42 during midday trading on Wednesday, reaching $75.80. The company had a trading volume of 994,973 shares, compared to its average volume of 1,123,146. The company has a 50 day moving average of $69.39 and a two-hundred day moving average of $62.11. The company has a market capitalization of $8.04 billion, a P/E ratio of 60.16 and a beta of 0.22. Corcept Therapeutics Incorporated has a 1 year low of $27.30 and a 1 year high of $117.33. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

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

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 32,262 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 5,487 shares of the company's stock, valued at approximately $406,970.79. This trade represents a 85.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Mahoney sold 27,352 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $74.23, for a total value of $2,030,338.96. The disclosure for this sale can be found here. Insiders sold 296,352 shares of company stock worth $24,908,205 over the last ninety days. 20.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CORT has been the subject of several recent analyst reports. HC Wainwright decreased their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler raised their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a report on Thursday, April 3rd. Canaccord Genuity Group upped their price objective on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Finally, Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Corcept Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $138.25.

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.