abrdn plc Reduces Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

abrdn plc lowered its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 435,895 shares of the biotechnology company's stock after selling 231,057 shares during the quarter. abrdn plc owned approximately 0.42% of Corcept Therapeutics worth $21,965,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. M&G PLC purchased a new stake in Corcept Therapeutics in the 3rd quarter valued at $11,173,000. Empowered Funds LLC purchased a new stake in shares of Corcept Therapeutics in the third quarter valued at about $1,784,000. Victory Capital Management Inc. boosted its stake in shares of Corcept Therapeutics by 49.2% during the third 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 during the period. Synergy Asset Management LLC grew its holdings in shares of Corcept Therapeutics by 131.3% during the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock worth $22,369,000 after buying an additional 262,503 shares during the last quarter. Finally, State Street Corp increased its position in Corcept Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock valued at $162,871,000 after acquiring an additional 19,893 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Performance

NASDAQ:CORT opened at $68.04 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $71.29. The firm's fifty day simple moving average is $56.72 and its 200-day simple moving average is $47.85. The stock has a market cap of $7.13 billion, a PE ratio of 54.00 and a beta of 0.58.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upped their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Corcept Therapeutics in a report on Thursday, October 31st. Finally, StockNews.com cut shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $88.25.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 1,411 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the transaction, the insider now directly owns 8,494 shares of the company's stock, valued at $481,779.68. The trade was a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,011 shares of company stock valued at $1,461,568. Insiders own 20.50% of the company's stock.

Corcept Therapeutics Company 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.

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