Hancock Whitney Corp Sells 4,813 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Hancock Whitney Corp trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 17.5% during the second quarter, HoldingsChannel reports. The fund owned 22,684 shares of the biotechnology company’s stock after selling 4,813 shares during the quarter. Hancock Whitney Corp’s holdings in Corcept Therapeutics were worth $737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 579 shares during the period. Park Place Capital Corp acquired a new stake in Corcept Therapeutics in the second quarter valued at $32,000. Atwood & Palmer Inc. bought a new position in Corcept Therapeutics during the 2nd quarter worth $35,000. FinTrust Capital Advisors LLC lifted its holdings in Corcept Therapeutics by 318.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Corcept Therapeutics by 27.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 448 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CORT has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. HC Wainwright boosted their price target on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Finally, Truist Financial restated a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a report on Monday, June 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $53.75.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $32.49, for a total value of $162,450.00. Following the transaction, the insider now owns 9,290 shares in the company, valued at $301,832.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Corcept Therapeutics news, insider Joseph Douglas Lyon sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $32.49, for a total transaction of $162,450.00. Following the transaction, the insider now owns 9,290 shares in the company, valued at $301,832.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were 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 $233,528.13. The disclosure for this sale can be found here. Insiders sold 30,451 shares of company stock valued at $1,090,844 in the last three months. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $42.25 on Monday. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 39.86 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $43.74. The stock’s 50 day moving average price is $35.38 and its two-hundred day moving average price is $30.09.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The business 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 earned $0.25 earnings per share. Corcept Therapeutics’s revenue was up 39.1% on a year-over-year basis. On average, equities research analysts forecast that Corcept Therapeutics Incorporated will post 1.1 EPS for the current year.

About Corcept Therapeutics

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.