Allspring Global Investments Holdings LLC Has $10.60 Million Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Allspring Global Investments Holdings LLC lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,466 shares of the biotechnology company’s stock after selling 39,602 shares during the period. Allspring Global Investments Holdings LLC owned about 0.20% of Corcept Therapeutics worth $10,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CORT. Jacobs Levy Equity Management Inc. raised its holdings in shares of Corcept Therapeutics by 40.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock worth $56,637,000 after acquiring an additional 352,947 shares during the last quarter. FMR LLC raised its holdings in shares of Corcept Therapeutics by 24.6% in the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock worth $63,122,000 after acquiring an additional 269,074 shares during the last quarter. Synergy Asset Management LLC raised its holdings in shares of Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock worth $22,369,000 after acquiring an additional 262,503 shares during the last quarter. M&G PLC acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter worth about $11,173,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Corcept Therapeutics by 20.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company’s stock worth $39,781,000 after acquiring an additional 143,507 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Analysts Set New Price Targets

CORT has been the subject of several analyst reports. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Friday, February 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of “Buy” and a consensus target price of $88.25.

Insider Transactions at Corcept Therapeutics

In related news, insider Joseph Douglas Lyon sold 1,411 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the transaction, the insider now directly owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total transaction of $130,812.00. The disclosure for this sale can be found here. Insiders sold a total of 28,011 shares of company stock worth $1,479,608 in the last quarter. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Trading Down 0.2 %

Shares of CORT stock opened at $72.60 on Wednesday. The company has a 50 day moving average of $58.24 and a 200-day moving average of $49.72. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $74.61. The firm has a market cap of $7.61 billion, a P/E ratio of 57.62 and a beta of 0.58.

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.