Voloridge Investment Management LLC Sells 150,548 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Voloridge Investment Management LLC trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 471,623 shares of the biotechnology company's stock after selling 150,548 shares during the period. Voloridge Investment Management LLC owned approximately 0.45% of Corcept Therapeutics worth $23,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CORT. Synergy Asset Management LLC increased its stake in shares of Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after purchasing an additional 262,503 shares during the period. Van ECK Associates Corp acquired a new stake in Corcept Therapeutics in the 4th quarter valued at approximately $4,483,000. HighTower Advisors LLC grew its holdings in Corcept Therapeutics by 30.7% in the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock valued at $4,720,000 after buying an additional 22,011 shares during the last quarter. Inspire Investing LLC bought a new position in Corcept Therapeutics in the 4th quarter worth approximately $807,000. Finally, New York State Teachers Retirement System lifted its holdings in shares of Corcept Therapeutics by 3.0% during the fourth quarter. New York State Teachers Retirement System now owns 128,232 shares of the biotechnology company's stock worth $6,462,000 after buying an additional 3,789 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 421 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $60.58, for a total value of $25,504.18. Following the sale, the insider now owns 9,009 shares of the company's stock, valued at approximately $545,765.22. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Guyer sold 7,060 shares of Corcept Therapeutics stock in a transaction dated Tuesday, May 6th. The shares were 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 $407,738.97. This represents a 56.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 296,352 shares of company stock valued at $24,908,205. Corporate insiders own 20.80% of the company's stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded down $0.82 during midday trading on Tuesday, reaching $77.87. 352,611 shares of the company's stock were exchanged, compared to its average volume of 1,127,506. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The company's 50 day simple moving average is $71.01 and its two-hundred day simple moving average is $62.82. Corcept Therapeutics Incorporated has a 12 month low of $28.04 and a 12 month high of $117.33. The firm has a market capitalization of $8.26 billion, a PE ratio of 61.64 and a beta of 0.22.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $157.21 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $0.25 earnings per share. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.