Allspring Global Investments Holdings LLC Boosts Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 85.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,807 shares of the biotechnology company’s stock after acquiring an additional 58,468 shares during the period. Allspring Global Investments Holdings LLC owned 0.12% of Corcept Therapeutics worth $3,194,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CORT. Quadrant Capital Group LLC increased its holdings in shares of Corcept Therapeutics by 27.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 448 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Corcept Therapeutics by 9.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 500 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Corcept Therapeutics by 1.0% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 56,671 shares of the biotechnology company’s stock worth $1,841,000 after acquiring an additional 555 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Corcept Therapeutics by 90.6% during 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 period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Corcept Therapeutics by 1.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 44,448 shares of the biotechnology company’s stock valued at $1,444,000 after acquiring an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $30.21, for a total value of $66,462.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $30.21, for a total value of $66,462.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $30.18, for a total value of $150,900.00. Following the sale, the insider now owns 7,314 shares in the company, valued at approximately $220,736.52. The disclosure for this sale can be found here. Insiders have sold 91,700 shares of company stock worth $2,562,652 over the last three months. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $31.56 on Wednesday. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $35.22. The company has a 50 day moving average price of $28.75 and a 200 day moving average price of $26.13. The stock has a market capitalization of $3.29 billion, a P/E ratio of 29.77 and a beta of 0.44.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $146.80 million during the quarter, compared to analyst estimates of $141.19 million. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. Research analysts forecast that Corcept Therapeutics Incorporated will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CORT shares. Truist Financial restated a “buy” rating and set a $65.00 price objective on shares of Corcept Therapeutics in a research report on Monday, June 17th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Piper Sandler reiterated an “overweight” rating and issued a $35.00 price objective on shares of Corcept Therapeutics in a report on Monday. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Corcept Therapeutics in a research note on Wednesday, May 29th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $45.10.

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.