Renaissance Technologies LLC Sells 310,400 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Renaissance Technologies LLC lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,198,602 shares of the biotechnology company's stock after selling 310,400 shares during the period. Corcept Therapeutics makes up 0.5% of Renaissance Technologies LLC's portfolio, making the stock its 28th biggest position. Renaissance Technologies LLC owned about 5.92% of Corcept Therapeutics worth $312,348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CORT. Bank of Montreal Can boosted its stake in Corcept Therapeutics by 8.9% in the 4th quarter. Bank of Montreal Can now owns 13,678 shares of the biotechnology company's stock valued at $689,000 after buying an additional 1,122 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Corcept Therapeutics by 107.1% during the 4th quarter. Federated Hermes Inc. now owns 13,870 shares of the biotechnology company's stock worth $699,000 after purchasing an additional 7,172 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Corcept Therapeutics by 9.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,969 shares of the biotechnology company's stock valued at $150,000 after purchasing an additional 257 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Corcept Therapeutics by 11.7% in the fourth quarter. Russell Investments Group Ltd. now owns 202,504 shares of the biotechnology company's stock valued at $10,204,000 after buying an additional 21,281 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Corcept Therapeutics by 104.5% during the fourth quarter. Wells Fargo & Company MN now owns 90,137 shares of the biotechnology company's stock worth $4,542,000 after buying an additional 46,067 shares during the last quarter. Institutional investors own 93.61% of the company's stock.

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Corcept Therapeutics Trading Up 1.3 %

Shares of CORT traded up $0.89 on Friday, reaching $68.62. 1,108,760 shares of the company's stock were exchanged, compared to its average volume of 1,122,227. The business has a 50 day moving average price of $65.72 and a two-hundred day moving average price of $57.79. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $117.33. The stock has a market capitalization of $7.24 billion, a P/E ratio of 54.46 and a beta of 0.15. 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 earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The business had revenue of $181.89 million for the quarter, compared to the consensus estimate of $200.12 million. Research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 100,000 shares of Corcept Therapeutics stock in a transaction on Monday, March 31st. The shares were sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the transaction, the insider now directly owns 85,622 shares of the company's stock, valued at $8,608,435.88. This trade represents a 53.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.08, for a total transaction of $149,776.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,924 shares of company stock worth $14,963,130. 20.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CORT. Canaccord Genuity Group boosted their price objective on Corcept Therapeutics from $130.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. HC Wainwright upped their price target 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. Truist Financial raised their price objective on shares of Corcept Therapeutics from $76.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 31st. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Piper Sandler increased their price objective on Corcept Therapeutics from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, April 3rd. One equities 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 company 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.