Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 219,905 shares of the biotechnology company's stock after selling 38,848 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.21% of Corcept Therapeutics worth $11,081,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CORT. Creative Planning raised its stake in shares of Corcept Therapeutics by 7.2% during the 3rd quarter. Creative Planning now owns 12,467 shares of the biotechnology company's stock worth $577,000 after acquiring an additional 841 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Corcept Therapeutics during the third quarter worth $238,000. Nisa Investment Advisors LLC increased its position in Corcept Therapeutics by 83.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,851 shares of the biotechnology company's stock valued at $456,000 after buying an additional 4,483 shares in the last quarter. US Bancorp DE increased its position in Corcept Therapeutics by 162.2% during the 3rd quarter. US Bancorp DE now owns 19,683 shares of the biotechnology company's stock valued at $911,000 after buying an additional 12,177 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in Corcept Therapeutics by 8.0% during the 3rd quarter. QRG Capital Management Inc. now owns 90,202 shares of the biotechnology company's stock valued at $4,175,000 after buying an additional 6,691 shares in the last quarter. Institutional investors own 93.61% of the company's stock.

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Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now directly owns 85,318 shares of the company's stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,827 shares of company stock worth $2,688,486. 20.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CORT shares. HC Wainwright restated a "buy" rating and set a $115.00 price objective on shares of Corcept Therapeutics in a report on Thursday, February 27th. Piper Sandler raised their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. StockNews.com lowered shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group lifted their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $99.75.

Corcept Therapeutics Stock Performance

CORT traded down $0.50 during midday trading on Wednesday, hitting $55.49. 1,230,029 shares of the company were exchanged, compared to its average volume of 1,010,522. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 44.04 and a beta of 0.58. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $75.00. The company's 50 day simple moving average is $60.20 and its 200 day simple moving average is $51.97. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). The firm had revenue of $181.89 million for the quarter, compared to analyst estimates of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. As a group, sell-side analysts predict that Corcept Therapeutics Incorporated will post 1.36 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.