311,503 Shares in Corcept Therapeutics Incorporated $CORT Purchased by Nuveen LLC

Key Points

• Nuveen LLC has invested $35.58 million in Corcept Therapeutics, acquiring 311,503 shares, which represents approximately 0.29% ownership of the company.
• Insider William Guyer sold 35,007 shares for over $2.5 million, significantly reducing his stake in the company by 86.45%.
• Analysts have downgraded Corcept's stock ratings, with the average consensus now labeled as "Moderate Buy" and a target price of $134.50.

Nuveen LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 311,503 shares of the biotechnology company's stock, valued at approximately $35,580,000. Nuveen LLC owned approximately 0.29% of Corcept Therapeutics at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in shares of Corcept Therapeutics by 104.5% during the fourth quarter. Wells Fargo & Company MN now owns 90,137 shares of the biotechnology company's stock worth $4,542,000 after buying an additional 46,067 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Corcept Therapeutics by 8.9% during the fourth quarter. Bank of Montreal Can now owns 13,678 shares of the biotechnology company's stock worth $689,000 after buying an additional 1,122 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Corcept Therapeutics by 3.3% during the fourth 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. Mariner LLC grew its stake in shares of Corcept Therapeutics by 13.6% during the fourth quarter. Mariner LLC now owns 13,362 shares of the biotechnology company's stock worth $673,000 after buying an additional 1,601 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $281,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Trading Down 0.7%

CORT stock traded down $0.52 during midday trading on Friday, hitting $70.46. The stock had a trading volume of 97,345 shares, compared to its average volume of 1,311,930. The firm has a market cap of $7.42 billion, a P/E ratio of 62.35 and a beta of 0.20. Corcept Therapeutics Incorporated has a 1-year low of $33.34 and a 1-year high of $117.33. The business has a fifty day moving average price of $71.18 and a two-hundred day moving average price of $69.40.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its 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. The business had revenue of $194.43 million for 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%. Corcept Therapeutics's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,823 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the transaction, the insider owned 10,066 shares in the company, valued at approximately $679,555.66. This represents a 36.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Guyer sold 35,007 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $71.77, for a total transaction of $2,512,452.39. Following the transaction, the insider owned 5,487 shares in the company, valued at $393,801.99. This represents a 86.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,215 shares of company stock worth $16,311,201 over the last three months. 20.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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