Acadian Asset Management LLC Sells 208,106 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Acadian Asset Management LLC reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 88.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,093 shares of the biotechnology company’s stock after selling 208,106 shares during the quarter. Acadian Asset Management LLC’s holdings in Corcept Therapeutics were worth $912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CORT. Quadrant Capital Group LLC lifted its holdings in shares of Corcept Therapeutics by 27.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 448 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of 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 acquiring an additional 510 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Corcept Therapeutics by 0.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company’s stock valued at $4,138,000 after buying an additional 541 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 579 shares in the last quarter. Finally, Park Place Capital Corp bought a new stake in shares of Corcept Therapeutics during the second quarter worth approximately $32,000. 93.61% of the stock is owned by institutional investors.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 10,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.49, for a total transaction of $162,450.00. Following the completion of the sale, the insider now directly owns 9,290 shares in the company, valued at approximately $301,832.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Guyer sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the sale, the insider now owns 6,039 shares of the company’s stock, valued at $233,528.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,451 shares of company stock worth $1,090,844. 20.50% of the stock is owned by company insiders.

Corcept Therapeutics Stock Up 0.9 %

NASDAQ CORT opened at $38.47 on Tuesday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 36.29 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $39.75. The business has a 50 day moving average price of $34.36 and a 200-day moving average price of $29.48.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings data 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 business had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 39.1% on a year-over-year basis. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. HC Wainwright increased their price objective on 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 increased their price objective on Corcept Therapeutics from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Truist Financial restated a “buy” rating and issued a $65.00 price target on shares of Corcept Therapeutics in a research report on Monday, June 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $46.50.

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.