American Century Companies Inc. reduced its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Free Report) by 32.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,735 shares of the biotechnology company’s stock after selling 47,088 shares during the quarter. American Century Companies Inc. owned about 0.09% of Corcept Therapeutics worth $3,143,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Corcept Therapeutics by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 510 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Corcept Therapeutics by 0.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock valued at $4,138,000 after purchasing an additional 541 shares in the last quarter. GAMMA Investing LLC raised its stake in Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 579 shares during the last quarter. Quest Partners LLC raised its stake in shares of Corcept Therapeutics by 23.2% in the second quarter. Quest Partners LLC now owns 5,266 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 992 shares during the last quarter. Finally, Park Place Capital Corp purchased a new position in Corcept Therapeutics during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.
Corcept Therapeutics Price Performance
Shares of CORT opened at $43.28 on Friday. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $44.37. The firm has a 50-day simple moving average of $36.19 and a two-hundred day simple moving average of $30.54. The stock has a market cap of $4.51 billion, a PE ratio of 40.83 and a beta of 0.45.
Insiders Place Their Bets
In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $32.81, for a total transaction of $72,182.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $233,528.13. The disclosure for this sale can be found here. Insiders have sold a total of 30,451 shares of company stock worth $1,090,844 in the last quarter. 20.50% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
CORT has been the subject of several analyst reports. HC Wainwright boosted their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price target on shares of Corcept Therapeutics in a research note on Monday, June 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, Piper Sandler upped their target price on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $53.75.
View Our Latest Stock Report on CORT
About Corcept Therapeutics
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.
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