Corebridge Financial Inc. Sells 3,401 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Corebridge Financial Inc. trimmed its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,488 shares of the biotechnology company's stock after selling 3,401 shares during the quarter. Corebridge Financial Inc.'s holdings in Corcept Therapeutics were worth $2,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC lifted its stake in Corcept Therapeutics by 131.3% in the fourth quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company's stock valued at $22,369,000 after buying an additional 262,503 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $4,483,000. State Street Corp raised its position in Corcept Therapeutics by 0.6% in the third quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company's stock worth $162,871,000 after acquiring an additional 19,893 shares in the last quarter. Burney Co. raised its position in Corcept Therapeutics by 9.1% in the fourth quarter. Burney Co. now owns 473,821 shares of the biotechnology company's stock worth $23,876,000 after acquiring an additional 39,657 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Corcept Therapeutics by 43.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company's stock valued at $11,712,000 after acquiring an additional 76,573 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

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Corcept Therapeutics Trading Down 6.2 %

Corcept Therapeutics stock traded down $4.92 during midday trading on Friday, reaching $74.45. The stock had a trading volume of 2,540,279 shares, compared to its average volume of 1,099,324. The firm's fifty day simple moving average is $64.81 and its two-hundred day simple moving average is $56.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 59.09 and a beta of 0.14.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million for the quarter, compared to analysts' expectations of $200.12 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total transaction of $111,188.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 100,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $100.54, for a total value of $10,054,000.00. Following the completion of the transaction, the insider now owns 85,622 shares in the company, valued at $8,608,435.88. This trade represents a 53.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,124 shares of company stock worth $15,074,318 in the last 90 days. Company insiders own 20.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CORT. Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Truist Financial raised their price objective on Corcept Therapeutics from $76.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. HC Wainwright boosted their target price on Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Finally, Canaccord Genuity Group increased their price target on Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Corcept Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $143.25.

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.