Jump Financial LLC Acquires New Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Jump Financial LLC purchased a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,242 shares of the biotechnology company's stock, valued at approximately $718,000.

Other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC lifted 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 acquiring an additional 262,503 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Corcept Therapeutics in the fourth quarter worth about $4,483,000. Burney Co. lifted its stake in shares of Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock worth $23,876,000 after acquiring an additional 39,657 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Corcept Therapeutics by 30.7% in the fourth quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company's stock worth $4,720,000 after acquiring an additional 22,011 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Corcept Therapeutics by 43.4% in the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock worth $11,712,000 after acquiring an additional 76,573 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Insider Activity

In related news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction dated 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 sale, the insider now directly owns 85,622 shares in the company, valued at $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,124 shares of company stock valued at $15,117,614. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT traded down $0.76 during trading on Monday, hitting $70.95. 1,377,465 shares of the company traded hands, compared to its average volume of 1,128,797. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 56.31 and a beta of 0.15. The business's fifty day moving average is $64.96 and its 200-day moving average is $59.45. Corcept Therapeutics Incorporated has a one year low of $22.60 and a one year high of $117.33. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CORT shares. Truist Financial boosted their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. HC Wainwright boosted their price objective on Corcept Therapeutics from $115.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. StockNews.com lowered Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Piper Sandler boosted their price objective on 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $143.25.

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.