Cerity Partners LLC Decreases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cerity Partners LLC trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 85.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,067 shares of the biotechnology company's stock after selling 436,175 shares during the period. Cerity Partners LLC owned approximately 0.07% of Corcept Therapeutics worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Corcept Therapeutics by 2.5% during the 1st quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company's stock worth $347,366,000 after acquiring an additional 376,774 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Corcept Therapeutics by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company's stock worth $264,915,000 after acquiring an additional 458,414 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Corcept Therapeutics by 2.5% during the 1st quarter. Federated Hermes Inc. now owns 4,740,420 shares of the biotechnology company's stock valued at $106,754,000 after purchasing an additional 114,571 shares during the last quarter. State Street Corp increased its position in shares of Corcept Therapeutics by 2.6% during the 2nd quarter. State Street Corp now owns 3,499,446 shares of the biotechnology company's stock valued at $83,217,000 after purchasing an additional 89,888 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Corcept Therapeutics by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,007 shares of the biotechnology company's stock valued at $46,656,000 after purchasing an additional 68,382 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock traded up $0.29 during mid-day trading on Friday, hitting $22.95. The company's stock had a trading volume of 924,783 shares, compared to its average volume of 1,445,297. The company has a 50 day moving average of $23.93 and a 200-day moving average of $25.48. The stock has a market cap of $2.38 billion, a PE ratio of 24.16 and a beta of 0.48. Corcept Therapeutics Incorporated has a one year low of $20.87 and a one year high of $34.28.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $135.41 million for the quarter, compared to the consensus estimate of $129.27 million. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. Corcept Therapeutics's quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CORT has been the topic of several analyst reports. Truist Financial boosted their target price on Corcept Therapeutics from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, February 16th. HC Wainwright cut their target price on Corcept Therapeutics from $34.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, January 2nd. Finally, StockNews.com downgraded Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $37.30.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Corcept Therapeutics news, CAO Joseph Douglas Lyon sold 1,000 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the completion of the sale, the chief accounting officer now directly owns 6,774 shares in the company, valued at approximately $176,124. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 in the last quarter. 19.80% of the stock is 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.