Marshall Wace LLP Trims Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Marshall Wace LLP lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 79.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,200 shares of the biotechnology company’s stock after selling 78,299 shares during the period. Marshall Wace LLP’s holdings in Corcept Therapeutics were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Corcept Therapeutics by 90.6% in the 1st quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 579 shares during the last quarter. Park Place Capital Corp purchased a new stake in Corcept Therapeutics in the second quarter valued at $32,000. Atwood & Palmer Inc. acquired a new stake in Corcept Therapeutics during the 2nd quarter worth about $35,000. FinTrust Capital Advisors LLC raised its stake in shares of Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 1,348 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,962 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the sale, the insider now owns 22,772 shares of the company’s stock, valued at $1,053,888.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $386,700.00. Following the completion of the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $233,528.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,251 shares of company stock worth $1,365,292. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

Corcept Therapeutics stock opened at $45.78 on Wednesday. The stock has a market capitalization of $4.77 billion, a PE ratio of 43.19 and a beta of 0.46. The business has a 50 day simple moving average of $37.85 and a 200-day simple moving average of $31.83. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $47.71.

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 analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The company had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $155.14 million. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. On average, equities research analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

CORT has been the topic of several analyst reports. HC Wainwright raised their target price on Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a 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 company an “overweight” rating in a report on Wednesday, September 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Finally, Truist Financial raised their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics currently has an average rating of “Buy” and a consensus price target of $56.50.

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.