Jump Financial LLC Purchases Shares of 14,242 Corcept Therapeutics Incorporated (NASDAQ:CORT)

Jump Financial LLC acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,242 shares of the biotechnology company's stock, valued at approximately $718,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. MML Investors Services LLC bought a new position in Corcept Therapeutics during the third quarter worth about $317,000. World Investment Advisors LLC bought a new position in shares of Corcept Therapeutics during the 3rd quarter worth approximately $503,000. Franklin Resources Inc. increased its holdings in shares of Corcept Therapeutics by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 242,791 shares of the biotechnology company's stock worth $10,998,000 after acquiring an additional 2,475 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 period. Finally, GAMMA Investing LLC lifted its holdings in Corcept Therapeutics by 20.3% during the 4th quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company's stock valued at $151,000 after purchasing an additional 506 shares during the last quarter. 93.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CORT has been the topic of several research reports. Truist Financial upped their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 31st. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright raised their price objective on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Piper Sandler upped their target price on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. Finally, StockNews.com cut Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $143.25.

Corcept Therapeutics Price Performance

Shares of Corcept Therapeutics stock opened at $64.68 on Wednesday. The company has a 50-day simple moving average of $65.11 and a two-hundred day simple moving average of $58.64. Corcept Therapeutics Incorporated has a twelve month low of $22.00 and a twelve month high of $117.33. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 51.33 and a beta of 0.15. 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 (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $181.89 million during 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%. Analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 35,102 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $94.72, for a total transaction of $3,324,861.44. Following the completion of the sale, the chief executive officer now directly owns 2,982,335 shares in the company, valued at $282,486,771.20. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,124 shares of company stock worth $15,117,614. Company 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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