Two Sigma Advisers LP Has $21.16 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Two Sigma Advisers LP lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 457,100 shares of the biotechnology company's stock after selling 57,900 shares during the period. Two Sigma Advisers LP owned about 0.44% of Corcept Therapeutics worth $21,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in Corcept Therapeutics in the 3rd quarter worth approximately $25,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Corcept Therapeutics in the third quarter worth $36,000. GAMMA Investing LLC raised its holdings in shares of Corcept Therapeutics by 85.4% during the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company's stock worth $115,000 after acquiring an additional 1,147 shares in the last quarter. KBC Group NV boosted its position in Corcept Therapeutics by 21.3% during the third 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 last quarter. Finally, Blue Trust Inc. grew its stake in Corcept Therapeutics by 125.4% in the second quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company's stock valued at $115,000 after purchasing an additional 1,962 shares in 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 Joseph Douglas Lyon sold 1,411 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total value of $80,031.92. Following the completion of the sale, the insider now owns 8,494 shares in the company, valued at approximately $481,779.68. This trade represents a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Guyer sold 3,394 shares of the business's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $48.97, for a total value of $166,204.18. Following the transaction, the insider now owns 5,796 shares in the company, valued at $283,830.12. This represents a 36.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,611 shares of company stock worth $1,210,548. Company insiders own 20.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CORT. Sandler O'Neill reaffirmed a "buy" rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. StockNews.com lowered shares of Corcept Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 25th. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Corcept Therapeutics in a research report on Thursday, October 31st. Truist Financial increased their price target on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Finally, Piper Sandler lifted their price objective on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $65.25.

Corcept Therapeutics Stock Performance

CORT stock traded down $1.52 during midday trading on Monday, hitting $59.26. 1,697,001 shares of the company traded hands, compared to its average volume of 1,163,149. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $62.22. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 48.24 and a beta of 0.51. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business has a 50 day simple moving average of $51.85 and a 200-day simple moving average of $40.28.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The business had revenue of $182.55 million for the quarter, compared to analyst estimates of $171.97 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. Corcept Therapeutics's revenue was up 47.7% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS. As a group, equities research analysts predict that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

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.