M&T Bank Corp Sells 1,249 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

M&T Bank Corp trimmed its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,169 shares of the biotechnology company’s stock after selling 1,249 shares during the quarter. M&T Bank Corp’s holdings in Corcept Therapeutics were worth $462,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CORT. Assetmark Inc. increased its holdings in Corcept Therapeutics by 2.0% in the 3rd quarter. Assetmark Inc. now owns 63,311 shares of the biotechnology company’s stock worth $2,930,000 after buying an additional 1,235 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Corcept Therapeutics by 49.2% in the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock worth $1,936,000 after buying an additional 13,787 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Corcept Therapeutics by 23.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,774 shares of the biotechnology company’s stock worth $1,147,000 after buying an additional 4,774 shares in the last quarter. KBC Group NV grew its stake in shares of Corcept Therapeutics by 21.3% during the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 496 shares during the period. Finally, Intellectus Partners LLC bought a new stake in shares of Corcept Therapeutics during the 3rd quarter valued at about $2,539,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Trading Down 0.3 %

Shares of NASDAQ:CORT opened at $54.85 on Friday. The stock has a 50 day moving average of $60.64 and a 200 day moving average of $52.72. The company has a market cap of $5.79 billion, a PE ratio of 43.53 and a beta of 0.61. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In related news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. The trade was a 18.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph K. Belanoff sold 2,924 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.91, for a total value of $178,100.84. Following the completion of the transaction, the chief executive officer now directly owns 3,019,411 shares in the company, valued at approximately $183,912,324.01. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,627 shares of company stock worth $2,557,674. 20.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CORT. HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. StockNews.com downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Piper Sandler boosted their price target on Corcept Therapeutics from $67.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.75.

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.