Man Group plc Decreases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Man Group plc decreased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287,880 shares of the biotechnology company's stock after selling 62,653 shares during the period. Man Group plc owned approximately 0.27% of Corcept Therapeutics worth $14,506,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Occudo Quantitative Strategies LP purchased a new stake in shares of Corcept Therapeutics in the fourth quarter worth approximately $282,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Corcept Therapeutics by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,033 shares of the biotechnology company's stock worth $2,320,000 after buying an additional 1,790 shares in the last quarter. Lazard Asset Management LLC raised its position in Corcept Therapeutics by 7.6% in the 4th quarter. Lazard Asset Management LLC now owns 20,000 shares of the biotechnology company's stock valued at $1,006,000 after buying an additional 1,410 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock valued at $69,381,000 after buying an additional 153,100 shares during the last quarter. Finally, Gen Wealth Partners Inc bought a new position in Corcept Therapeutics during the 4th quarter valued at $67,000. 93.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 421 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the completion of the transaction, the insider now owns 9,009 shares of the company's stock, valued at $545,765.22. The trade was a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Guyer sold 7,060 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.31, for a total value of $524,628.60. Following the sale, the insider now owns 5,487 shares in the company, valued at $407,738.97. The trade was a 56.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 296,352 shares of company stock worth $24,908,205. Corporate insiders own 20.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of 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 objective on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Piper Sandler increased their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group boosted their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Finally, HC Wainwright reduced their target price on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a 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. According to data from MarketBeat, Corcept Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $138.25.

Corcept Therapeutics Stock Performance

CORT stock traded up $1.30 during mid-day trading on Friday, hitting $77.39. The company had a trading volume of 197,736 shares, compared to its average volume of 1,123,072. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $8.21 billion, a PE ratio of 61.49 and a beta of 0.22. Corcept Therapeutics Incorporated has a 12 month low of $27.30 and a 12 month high of $117.33. The stock's fifty day moving average price is $70.15 and its two-hundred day moving average price is $62.38.

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