Vise Technologies Inc. Acquires New Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Vise Technologies Inc. acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,046 shares of the biotechnology company's stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Corcept Therapeutics by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,115,624 shares of the biotechnology company's stock worth $509,726,000 after buying an additional 109,294 shares in the last quarter. Parallel Advisors LLC grew its stake in Corcept Therapeutics by 0.4% in the 4th quarter. Parallel Advisors LLC now owns 3,829,632 shares of the biotechnology company's stock worth $192,975,000 after acquiring an additional 15,908 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Corcept Therapeutics by 4.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,644,942 shares of the biotechnology company's stock valued at $82,889,000 after acquiring an additional 64,321 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Corcept Therapeutics by 12.5% during 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 purchasing an additional 153,100 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Corcept Therapeutics by 2.4% during 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 during the period. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Stock Up 0.6%

NASDAQ:CORT traded up $0.45 during trading hours on Friday, hitting $78.09. The stock had a trading volume of 1,203,879 shares, compared to its average volume of 1,122,355. The company has a market cap of $8.28 billion, a PE ratio of 61.98 and a beta of 0.22. The business has a 50 day simple moving average of $72.53 and a two-hundred day simple moving average of $63.33. Corcept Therapeutics Incorporated has a 1-year low of $28.04 and a 1-year high of $117.33. 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 released its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting analysts' consensus estimates of $0.17. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $157.21 million during the quarter, compared to analyst estimates of $177.93 million. During the same period last year, the business earned $0.25 EPS. The business's revenue was up 7.1% on a year-over-year basis. Analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 18,303 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07. Following the sale, the insider now directly owns 85,622 shares of the company's stock, valued at $5,196,399.18. This represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Guyer sold 7,060 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.31, for a total transaction of $524,628.60. Following the transaction, the insider now directly owns 5,487 shares of the company's stock, valued at approximately $407,738.97. This represents a 56.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 296,352 shares of company stock valued at $24,908,205. 20.50% of the stock is currently owned by insiders.

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.