Victory Capital Management Inc. Has $911,000 Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Victory Capital Management Inc. lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 19.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,036 shares of the biotechnology company’s stock after selling 6,810 shares during the quarter. Victory Capital Management Inc.’s holdings in Corcept Therapeutics were worth $911,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Corcept Therapeutics by 90.6% during the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after buying an additional 579 shares during the last quarter. Park Place Capital Corp acquired a new stake in shares of Corcept Therapeutics in the 2nd quarter valued at approximately $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics during the 2nd quarter worth approximately $35,000. FinTrust Capital Advisors LLC boosted its position in Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Corcept Therapeutics by 27.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity

In other news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The disclosure for this sale can be found here. Insiders sold 30,451 shares of company stock worth $1,090,844 in the last quarter. 20.50% of the stock is owned by corporate insiders.

Corcept Therapeutics Stock Performance

Shares of NASDAQ CORT opened at $42.25 on Friday. The company’s 50 day moving average price is $35.38 and its 200-day moving average price is $29.99. The company has a market capitalization of $4.40 billion, a P/E ratio of 39.86 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $43.74.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. Corcept Therapeutics’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. Analysts forecast that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial reiterated a “buy” rating and set a $65.00 target price on shares of Corcept Therapeutics in a research report on Monday, June 17th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price target on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $53.75.

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.