Alpha DNA Investment Management LLC Purchases New Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Alpha DNA Investment Management LLC acquired a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund acquired 10,016 shares of the biotechnology company's stock, valued at approximately $464,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Algert Global LLC grew its position in shares of Corcept Therapeutics by 216.2% during the 3rd quarter. Algert Global LLC now owns 40,115 shares of the biotechnology company's stock valued at $1,857,000 after purchasing an additional 27,430 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Corcept Therapeutics by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company's stock valued at $47,506,000 after buying an additional 53,191 shares during the period. Intech Investment Management LLC grew its position in Corcept Therapeutics by 42.7% during the third quarter. Intech Investment Management LLC now owns 20,532 shares of the biotechnology company's stock worth $950,000 after buying an additional 6,140 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Corcept Therapeutics by 29.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 12,661 shares of the biotechnology company's stock worth $586,000 after acquiring an additional 2,897 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Corcept Therapeutics by 20.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 859,563 shares of the biotechnology company's stock valued at $39,781,000 after acquiring an additional 143,507 shares in the last quarter. Hedge funds and other institutional investors own 93.61% of the company's stock.

Corcept Therapeutics Trading Up 2.6 %

NASDAQ:CORT traded up $1.49 during trading hours on Monday, reaching $59.03. The company's stock had a trading volume of 1,501,173 shares, compared to its average volume of 1,179,222. The firm has a 50-day simple moving average of $48.41 and a 200-day simple moving average of $38.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $61.66. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 46.85 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company's quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. Research analysts expect that Corcept Therapeutics Incorporated will post 1.35 EPS for the current fiscal year.

Insider Activity

In related news, insider Gary Charles Robb sold 11,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the transaction, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. The trade was a 32.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William Guyer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $35.30, for a total value of $353,000.00. Following the completion of the sale, the insider now owns 6,039 shares of the company's stock, valued at approximately $213,176.70. This trade represents a 62.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,200 shares of company stock valued at $1,483,516. 20.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CORT has been the topic of several research analyst reports. Canaccord Genuity Group restated a "buy" rating and issued a $38.00 price objective on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Piper Sandler upped their target price on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Sandler O'Neill restated a "buy" rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, Truist Financial upped 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. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Corcept Therapeutics currently has an average rating of "Buy" and an average target price of $65.25.

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.