Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 84.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,626 shares of the biotechnology company’s stock after selling 52,001 shares during the quarter. Sei Investments Co.’s holdings in Corcept Therapeutics were worth $313,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Corcept Therapeutics during the second quarter worth approximately $468,000. Hsbc Holdings PLC boosted its holdings in shares of Corcept Therapeutics by 34.5% in the 2nd quarter. Hsbc Holdings PLC now owns 108,366 shares of the biotechnology company’s stock valued at $3,479,000 after buying an additional 27,785 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Corcept Therapeutics in the 2nd quarter valued at $205,000. Mercer Global Advisors Inc. ADV grew its position in shares of Corcept Therapeutics by 15.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 81,801 shares of the biotechnology company’s stock valued at $2,658,000 after buying an additional 10,658 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Corcept Therapeutics by 94.9% in the second quarter. Mutual of America Capital Management LLC now owns 263,296 shares of the biotechnology company’s stock valued at $8,554,000 after acquiring an additional 128,194 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In related news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 document filed with the SEC, which is available at this link. In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total value of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William Guyer sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the sale, the insider now owns 6,039 shares in the company, valued at $233,528.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,251 shares of company stock worth $1,365,292. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Down 1.5 %

NASDAQ CORT opened at $45.25 on Friday. The firm has a market cap of $4.71 billion, a P/E ratio of 42.69 and a beta of 0.46. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $47.71. The business’s 50-day moving average price is $38.14 and its 200 day moving average price is $32.02.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $155.14 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CORT. Truist Financial raised their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Canaccord Genuity Group restated a “buy” rating and set a $38.00 price target on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Piper Sandler boosted their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, HC Wainwright increased their price objective on Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.