Exchange Traded Concepts LLC Decreases Stock Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Exchange Traded Concepts LLC lowered its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 80.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,833 shares of the biotechnology company's stock after selling 62,213 shares during the period. Exchange Traded Concepts LLC's holdings in Corcept Therapeutics were worth $686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CORT. Nisa Investment Advisors LLC increased its position in Corcept Therapeutics by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,368 shares of the biotechnology company's stock valued at $174,000 after acquiring an additional 510 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Corcept Therapeutics by 0.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 127,348 shares of the biotechnology company's stock worth $4,138,000 after purchasing an additional 541 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 90.6% during the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 579 shares during the period. Bank of Montreal Can grew its position in Corcept Therapeutics by 5.0% in the 2nd quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company's stock valued at $395,000 after buying an additional 580 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Corcept Therapeutics by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,780 shares of the biotechnology company's stock worth $1,585,000 after buying an additional 932 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CORT. Sandler O'Neill reissued a "buy" rating on shares of Corcept Therapeutics in a report on Friday. Truist Financial raised their price target on Corcept Therapeutics from $65.00 to $76.00 and gave the company a "buy" rating in a report on Monday, September 30th. Piper Sandler upped their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. HC Wainwright raised their target price on Corcept Therapeutics from $45.00 to $80.00 and gave the company a "buy" rating in a report on Friday. Finally, Canaccord Genuity Group restated a "buy" rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $65.25.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider William Guyer sold 10,000 shares of the business's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.67, for a total value of $386,700.00. Following the completion of the transaction, the insider now directly owns 6,039 shares of the company's stock, valued at $233,528.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider William Guyer sold 10,000 shares of Corcept Therapeutics stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.67, for a total transaction of $386,700.00. Following the completion of the sale, the insider now owns 6,039 shares in the company, valued at approximately $233,528.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Charles Robb sold 11,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the transaction, the insider now owns 22,772 shares in the company, valued at approximately $1,053,888.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,251 shares of company stock worth $1,365,292. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Price Performance

CORT traded up $2.58 during trading on Friday, reaching $49.75. 3,005,322 shares of the stock were exchanged, compared to its average volume of 1,187,827. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 46.93 and a beta of 0.46. Corcept Therapeutics Incorporated has a 1 year low of $20.84 and a 1 year high of $50.07. The business's 50 day moving average price is $39.65 and its two-hundred day moving average price is $32.93.

Corcept Therapeutics (NASDAQ:CORT - Get Free Report) last posted its earnings results on Monday, July 29th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $155.14 million. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The firm's revenue for the quarter was up 39.1% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. On average, analysts anticipate that Corcept Therapeutics Incorporated will post 1.12 EPS 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.