Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Corcept Therapeutics by 23.7% in the first quarter, bringing their total holdings to 39,730 shares valued at approximately $4.54 million.
• Insiders have sold a total of 246,808 shares of Corcept Therapeutics stock worth over $18.22 million in the last quarter, indicating significant insider transactions.
• Corcept Therapeutics reported $0.29 EPS for the last quarter, exceeding the consensus estimate of $0.23, with a revenue of $194.43 million, which was below expectations.

Natixis Advisors LLC grew its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 23.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,730 shares of the biotechnology company's stock after purchasing an additional 7,607 shares during the quarter. Natixis Advisors LLC's holdings in Corcept Therapeutics were worth $4,538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Corcept Therapeutics by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company's stock valued at $909,000 after acquiring an additional 230 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Corcept Therapeutics by 9.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock worth $150,000 after purchasing an additional 257 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of Corcept Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,459 shares of the biotechnology company's stock worth $426,000 after buying an additional 268 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Corcept Therapeutics by 102.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 620 shares of the biotechnology company's stock valued at $71,000 after buying an additional 313 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Corcept Therapeutics by 13.7% during the 1st quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company's stock valued at $389,000 after buying an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Insider Activity

In other news, insider William Guyer sold 500 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $73.44, for a total value of $36,720.00. Following the completion of the sale, the insider owned 5,487 shares in the company, valued at $402,965.28. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sean Maduck sold 35,007 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $67.79, for a total value of $2,373,124.53. Following the transaction, the insider directly owned 7,681 shares of the company's stock, valued at $520,694.99. This represents a 82.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,808 shares of company stock valued at $18,220,428 over the last 90 days. Corporate insiders own 20.80% of the company's stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded up $0.96 during midday trading on Thursday, reaching $71.48. 712,355 shares of the company traded hands, compared to its average volume of 891,419. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 62.41 and a beta of 0.20. The stock has a 50-day moving average price of $71.09 and a 200 day moving average price of $68.78. Corcept Therapeutics Incorporated has a 52 week low of $33.34 and a 52 week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. The company had revenue of $194.43 million for the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. Corcept Therapeutics's revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. As a group, analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CORT. HC Wainwright cut their price target on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Piper Sandler dropped their target price on 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 downgraded shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group cut their price objective 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. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Corcept Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $134.50.

Corcept Therapeutics Company 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.