Versor Investments LP Acquires 18,448 Shares of Corcept Therapeutics Incorporated $CORT

Key Points

• Versor Investments LP increased its stake in Corcept Therapeutics by 151.2%, now owning 30,648 shares valued at approximately $3.5 million.
• Insider sales have been notable, with CEO Joseph K. Belanoff selling 40,000 shares for about $2.74 million, reducing his ownership by 1.38%.
• Corcept's stock has a market cap of $7.56 billion and reported a year-over-year revenue growth of 18.7%, with earnings per share surpassing analysts' estimates.

Versor Investments LP lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 151.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,648 shares of the biotechnology company's stock after buying an additional 18,448 shares during the quarter. Corcept Therapeutics comprises 0.6% of Versor Investments LP's investment portfolio, making the stock its 16th biggest position. Versor Investments LP's holdings in Corcept Therapeutics were worth $3,501,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CORT. Parallel Advisors LLC grew its position in shares of Corcept Therapeutics by 3.7% during the 1st quarter. Parallel Advisors LLC now owns 3,972,416 shares of the biotechnology company's stock valued at $453,729,000 after purchasing an additional 142,784 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Corcept Therapeutics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,510 shares of the biotechnology company's stock worth $243,708,000 after buying an additional 57,942 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Corcept Therapeutics by 12.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,376,881 shares of the biotechnology company's stock worth $69,381,000 after buying an additional 153,100 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Corcept Therapeutics by 76.5% in the 1st quarter. Invesco Ltd. now owns 1,246,234 shares of the biotechnology company's stock worth $142,345,000 after buying an additional 540,101 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Corcept Therapeutics by 10.2% in the 4th quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company's stock worth $51,172,000 after buying an additional 94,128 shares during the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corcept Therapeutics

In other news, 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 completion of the sale, the insider directly owned 7,681 shares of the company's stock, valued at approximately $520,694.99. This trade represents a 82.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph K. Belanoff sold 40,000 shares of Corcept Therapeutics stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $68.53, for a total transaction of $2,741,200.00. Following the transaction, the chief executive officer directly owned 2,861,370 shares of the company's stock, valued at approximately $196,089,686.10. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,215 shares of company stock worth $16,311,201. 20.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on CORT shares. Truist Financial set a $135.00 price target on shares of Corcept Therapeutics in a report on Tuesday, May 6th. Canaccord Genuity Group decreased their price target on shares of Corcept Therapeutics from $142.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, August 1st. HC Wainwright decreased their price target on shares of Corcept Therapeutics from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Piper Sandler decreased their price target on shares of Corcept Therapeutics from $131.00 to $121.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $134.50.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded down $0.65 during trading hours on Friday, reaching $70.33. The stock had a trading volume of 306,241 shares, compared to its average volume of 1,313,305. The stock has a market cap of $7.41 billion, a PE ratio of 62.24 and a beta of 0.20. Corcept Therapeutics Incorporated has a 52 week low of $33.34 and a 52 week high of $117.33. The company has a fifty day simple moving average of $71.18 and a 200-day simple moving average of $69.40.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping 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 firm had revenue of $194.43 million during the quarter, compared to analysts' expectations of $199.40 million. During the same period last year, the company posted $0.32 EPS. The company's quarterly revenue was up 18.7% compared to the same quarter last year. Corcept Therapeutics has set its FY 2025 guidance at EPS. Research analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

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.