Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 40.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,731 shares of the biotechnology company's stock after selling 32,358 shares during the period. Victory Capital Management Inc.'s holdings in Corcept Therapeutics were worth $1,518,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CORT. FNY Investment Advisers LLC purchased a new position in Corcept Therapeutics during the 4th quarter valued at about $32,000. Planned Solutions Inc. purchased a new position in Corcept Therapeutics during the fourth quarter valued at approximately $45,000. Headlands Technologies LLC bought a new position in Corcept Therapeutics in the fourth quarter worth approximately $47,000. Strs Ohio purchased a new stake in Corcept Therapeutics during the third quarter worth $54,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Corcept Therapeutics during the 3rd quarter valued at $125,000. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock traded up $0.55 during midday trading on Friday, reaching $28.09. The company's stock had a trading volume of 823,758 shares, compared to its average volume of 1,403,228. The stock has a market capitalization of $2.92 billion, a P/E ratio of 26.50 and a beta of 0.50. The stock's 50-day simple moving average is $24.57 and its 200-day simple moving average is $25.11. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $34.28.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. The company had revenue of $146.80 million during the quarter, compared to analysts' expectations of $141.19 million. Corcept Therapeutics had a net margin of 22.38% and a return on equity of 24.19%. Corcept Therapeutics's revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.95 earnings per share for the current fiscal year.

Insider Transactions at Corcept Therapeutics

In related news, insider Sean Maduck sold 50,000 shares of Corcept Therapeutics stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the insider now owns 85,222 shares of the company's stock, valued at $2,386,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $23.59, for a total value of $51,898.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Maduck sold 50,000 shares of the company's stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now owns 85,222 shares in the company, valued at approximately $2,386,216. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,572 shares of company stock worth $3,211,123. Company insiders own 20.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com cut Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 3rd. Truist Financial increased their price target on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Finally, HC Wainwright lifted their price objective on shares of Corcept Therapeutics from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $40.10.

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.