Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Axa S.A.

Axa S.A. cut its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 42.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,948 shares of the biotechnology company’s stock after selling 9,674 shares during the quarter. Axa S.A.’s holdings in Corcept Therapeutics were worth $421,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of Corcept Therapeutics by 28.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,008 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 2,432 shares during the period. Hsbc Holdings PLC increased its position in shares of Corcept Therapeutics by 78.1% in the fourth quarter. Hsbc Holdings PLC now owns 46,429 shares of the biotechnology company’s stock worth $1,511,000 after acquiring an additional 20,360 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Corcept Therapeutics by 50.7% during the fourth quarter. Allianz Asset Management GmbH now owns 48,818 shares of the biotechnology company’s stock valued at $1,586,000 after acquiring an additional 16,422 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in shares of Corcept Therapeutics by 224.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 32,578 shares of the biotechnology company’s stock valued at $1,058,000 after acquiring an additional 22,548 shares during the period. Finally, Quantedge Capital Pte Ltd purchased a new stake in shares of Corcept Therapeutics in the 4th quarter valued at approximately $8,066,000. 93.61% of the stock is owned by institutional investors.

Corcept Therapeutics Stock Up 1.0 %

Corcept Therapeutics stock opened at $46.75 on Wednesday. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $47.71. The company’s fifty day simple moving average is $36.63 and its 200-day simple moving average is $30.93. The stock has a market cap of $4.87 billion, a P/E ratio of 44.10 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a return on equity of 23.66% and a net margin of 21.93%. The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $155.14 million. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 39.1% compared to the same quarter last year. On average, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CORT. Piper Sandler boosted their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. HC Wainwright upped their price target on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $56.50.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Gary Charles Robb sold 3,101 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the sale, the insider now directly owns 23,190 shares of the company’s stock, valued at $828,114.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider William Guyer sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total transaction of $353,000.00. Following the transaction, the insider now owns 6,039 shares of the company’s stock, valued at approximately $213,176.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Charles Robb sold 3,101 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.71, for a total value of $110,736.71. Following the completion of the sale, the insider now owns 23,190 shares of the company’s stock, valued at $828,114.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,251 shares of company stock valued at $1,365,292. 20.50% of the stock is currently owned by corporate insiders.

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.