Scientech Research LLC Has $1.62 Million Stock Position in Corcept Therapeutics Incorporated $CORT

Key Points

• Scientech Research LLC reduced its stake in Corcept Therapeutics by 25%, selling 4,716 shares and now holding 14,181 shares worth approximately $1.62 million.
• Company insiders, including Sean Maduck and Joseph Douglas Lyon, sold significant portions of their holdings, with Maduck reducing his position by 82% in a sale valued at over $2.37 million.
• Corcept Therapeutics reported a quarterly earnings per share of $0.29, exceeding analyst expectations, but had revenues below estimates at $194.43 million for the quarter.

Scientech Research LLC trimmed its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 25.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,181 shares of the biotechnology company's stock after selling 4,716 shares during the quarter. Corcept Therapeutics comprises 0.4% of Scientech Research LLC's portfolio, making the stock its 24th biggest holding. Scientech Research LLC's holdings in Corcept Therapeutics were worth $1,620,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in shares of Corcept Therapeutics by 269.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company's stock worth $144,000 after acquiring an additional 2,086 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Corcept Therapeutics by 24.5% in the first quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company's stock valued at $10,670,000 after buying an additional 18,389 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in Corcept Therapeutics during the 1st quarter worth approximately $331,000. Robeco Institutional Asset Management B.V. acquired a new position in Corcept Therapeutics during the first quarter valued at approximately $355,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Corcept Therapeutics in the first quarter valued at approximately $384,000. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Shares of CORT traded down $2.19 during midday trading on Friday, hitting $72.14. The stock had a trading volume of 217,148 shares, compared to its average volume of 1,262,018. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 63.82 and a beta of 0.29. The company has a 50 day simple moving average of $70.62 and a two-hundred day simple moving average of $69.57. Corcept Therapeutics Incorporated has a twelve month low of $35.87 and a twelve month high of $117.33.

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

Insider Buying and Selling at Corcept Therapeutics

In related news, insider William Guyer sold 35,007 shares of Corcept Therapeutics stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $71.77, for a total value of $2,512,452.39. Following the sale, the insider owned 5,487 shares of the company's stock, valued at approximately $393,801.99. The trade was a 86.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $68.53, for a total value of $2,741,200.00. Following the sale, the chief executive officer owned 2,861,370 shares in the company, valued at $196,089,686.10. The trade was a 1.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,215 shares of company stock worth $15,572,699 in the last three months. 20.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CORT. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $137.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday. Piper Sandler reduced their target price on Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $135.25.

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.