Two Sigma Investments LP Sells 153,522 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Two Sigma Investments LP reduced its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,528 shares of the biotechnology company's stock after selling 153,522 shares during the period. Two Sigma Investments LP owned 0.19% of Corcept Therapeutics worth $10,205,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Corcept Therapeutics by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock valued at $509,726,000 after buying an additional 109,294 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Corcept Therapeutics by 0.4% during the fourth quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock valued at $192,975,000 after acquiring an additional 15,908 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Corcept Therapeutics by 4.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock worth $82,889,000 after purchasing an additional 64,321 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Corcept Therapeutics by 12.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock worth $69,381,000 after purchasing an additional 153,100 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Corcept Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,051,560 shares of the biotechnology company's stock worth $52,988,000 after purchasing an additional 25,073 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Buying and Selling

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $70.22, for a total value of $154,484.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sean Maduck sold 100,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at $8,608,435.88. This represents a 53.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 296,352 shares of company stock worth $24,908,205. 20.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on CORT shares. Piper Sandler boosted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Canaccord Genuity Group upped their target price on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. Wall Street Zen lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, HC Wainwright lowered their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $138.25.

Corcept Therapeutics Stock Down 0.6%

Shares of CORT traded down $0.47 during trading hours on Friday, reaching $77.17. 153,883 shares of the stock traded hands, compared to its average volume of 1,118,797. Corcept Therapeutics Incorporated has a 52 week low of $28.04 and a 52 week high of $117.33. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 61.52 and a beta of 0.22. The stock has a fifty day simple moving average of $72.13 and a 200 day simple moving average of $63.14. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Monday, May 5th. The biotechnology company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm had revenue of $157.21 million for the quarter, compared to analysts' expectations of $177.93 million. During the same quarter last year, the firm earned $0.25 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

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.