Mutual of America Capital Management LLC Lowers Position in Corcept Therapeutics Incorporated $CORT

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Corcept Therapeutics by 25.4%, owning 156,242 shares valued at approximately $11.47 million after selling 53,116 shares.
• Insider William Guyer sold 20,000 shares at an average price of $89.94, resulting in a total of $1.79 million, representing a 79.09% decrease in his ownership.
• Corcept Therapeutics has a market capitalization of $8.29 billion and reported $0.29 EPS for the last quarter, exceeding analysts' expectations of $0.23.

Mutual of America Capital Management LLC lowered its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 25.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,242 shares of the biotechnology company's stock after selling 53,116 shares during the period. Mutual of America Capital Management LLC owned about 0.15% of Corcept Therapeutics worth $11,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Focus Partners Wealth raised its position in Corcept Therapeutics by 0.5% during the first quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company's stock worth $3,797,000 after acquiring an additional 170 shares during the last quarter. Brooklyn Investment Group increased its position in Corcept Therapeutics by 99.5% during the first quarter. Brooklyn Investment Group now owns 373 shares of the biotechnology company's stock worth $43,000 after purchasing an additional 186 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Corcept Therapeutics by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company's stock worth $3,237,000 after purchasing an additional 200 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in Corcept Therapeutics by 3.4% during the second quarter. Concurrent Investment Advisors LLC now owns 6,175 shares of the biotechnology company's stock worth $453,000 after buying an additional 205 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Corcept Therapeutics by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock worth $909,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $89.94, for a total transaction of $1,798,800.00. Following the transaction, the insider owned 5,287 shares of the company's stock, valued at approximately $475,512.78. This trade represents a 79.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.75, for a total transaction of $423,750.00. Following the transaction, the insider directly owned 10,277 shares in the company, valued at approximately $870,975.75. The trade was a 32.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 292,451 shares of company stock valued at $21,850,930 in the last 90 days. Corporate insiders own 20.50% of the company's stock.

Corcept Therapeutics Trading Down 1.0%

CORT stock opened at $78.69 on Monday. Corcept Therapeutics Incorporated has a one year low of $42.01 and a one year high of $117.33. The firm has a market capitalization of $8.29 billion, a PE ratio of 69.64 and a beta of 0.46. The firm has a 50-day moving average of $76.01 and a two-hundred day moving average of $72.99.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $145.00 target price on shares of Corcept Therapeutics in a research note on Friday, October 10th. Zacks Research cut shares of Corcept Therapeutics from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 1st. Canaccord Genuity Group reissued a "buy" rating and set a $140.00 target price on shares of Corcept Therapeutics in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Corcept Therapeutics in a report on Wednesday, October 8th. Finally, Piper Sandler decreased their target price on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Four equities 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. Based on data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $135.25.

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.

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