Vident Advisory LLC Sells 6,114 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Vident Advisory LLC decreased its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,778 shares of the biotechnology company's stock after selling 6,114 shares during the period. Vident Advisory LLC owned about 0.10% of Corcept Therapeutics worth $5,532,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Corcept Therapeutics in the fourth quarter valued at approximately $27,000. Canada Pension Plan Investment Board bought a new stake in shares of Corcept Therapeutics during the 4th quarter worth $40,000. National Bank of Canada FI purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth about $42,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Corcept Therapeutics in the 4th quarter worth about $58,000. Finally, Principal Securities Inc. grew its position in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock valued at $63,000 after buying an additional 483 shares during the period. Institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $74.82 on Tuesday. The firm has a 50-day moving average of $68.96 and a 200-day moving average of $62.01. The firm has a market cap of $7.93 billion, a P/E ratio of 59.38 and a beta of 0.22. 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 Incorporated has a 1-year low of $27.30 and a 1-year high of $117.33.

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. The firm had revenue of $157.21 million during the quarter, compared to analysts' expectations of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. Sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler lifted their price target on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. HC Wainwright decreased 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 report on Tuesday, May 6th. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Truist Financial set a $135.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $138.25.

Insider Buying and Selling at Corcept Therapeutics

In other news, CEO Joseph K. Belanoff sold 2,924 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the sale, the chief executive officer now directly owns 3,019,411 shares of the company's stock, valued at $183,912,324.01. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 421 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total transaction of $25,504.18. Following the sale, the insider now directly owns 9,009 shares in the company, valued at $545,765.22. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,738 shares of company stock valued at $20,484,994. 20.80% of the stock is currently owned by company insiders.

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.

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