Quantbot Technologies LP Invests $6.16 Million in Corcept Therapeutics Incorporated $CORT

Key Points

• Quantbot Technologies LP has acquired a new position in Corcept Therapeutics, purchasing 53,884 shares valued at approximately $6.15 million, representing 0.05% of the company's stock.
• Corcept Therapeutics reported a quarterly earnings per share (EPS) of $0.29, surpassing analyst estimates of $0.23, while its revenue reached $194.43 million.
• Recent research analyst reports indicate a downward adjustment in price targets for Corcept Therapeutics, with an average rating of "Moderate Buy" and a consensus target price of $134.50.

Quantbot Technologies LP bought a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,884 shares of the biotechnology company's stock, valued at approximately $6,155,000. Quantbot Technologies LP owned approximately 0.05% of Corcept Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp boosted its stake in Corcept Therapeutics by 0.6% during the first quarter. Northern Trust Corp now owns 1,022,001 shares of the biotechnology company's stock worth $116,733,000 after acquiring an additional 6,486 shares in the last quarter. Brooklyn Investment Group boosted its stake 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 acquiring an additional 186 shares in the last quarter. Versor Investments LP lifted its stake in shares of Corcept Therapeutics by 151.2% in the first quarter. Versor Investments LP now owns 30,648 shares of the biotechnology company's stock valued at $3,501,000 after buying an additional 18,448 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Corcept Therapeutics by 15.7% in the first quarter. American Century Companies Inc. now owns 114,362 shares of the biotechnology company's stock valued at $13,062,000 after buying an additional 15,494 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Corcept Therapeutics by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock valued at $243,708,000 after buying an additional 57,942 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $72.30, for a total transaction of $159,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 35,007 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $67.79, for a total transaction of $2,373,124.53. Following the sale, the insider owned 7,681 shares of the company's stock, valued at $520,694.99. This trade represents a 82.01% 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 valued at $16,311,201 in the last three months. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Price Performance

Shares of CORT stock traded down $0.65 on Friday, hitting $70.33. The stock had a trading volume of 866,233 shares, compared to its average volume of 863,588. The business has a 50 day moving average of $71.18 and a 200 day moving average of $69.44. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 62.24 and a beta of 0.20. Corcept Therapeutics Incorporated has a 12-month low of $33.34 and a 12-month high of $117.33.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HC Wainwright dropped 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. Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped 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 note on Friday, August 1st. Piper Sandler dropped their price objective 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. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $134.50.

About Corcept Therapeutics

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.