Sei Investments Co. Acquires 54,521 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Sei Investments Co. grew its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 120.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,943 shares of the biotechnology company's stock after acquiring an additional 54,521 shares during the quarter. Sei Investments Co. owned 0.10% of Corcept Therapeutics worth $5,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CORT. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics in the 4th quarter valued at $27,000. USA Financial Formulas acquired a new position in Corcept Therapeutics in the fourth quarter valued at about $54,000. Newbridge Financial Services Group Inc. bought a new stake in Corcept Therapeutics during the fourth quarter worth about $58,000. Principal Securities Inc. grew its stake in Corcept Therapeutics by 63.6% during the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company's stock worth $63,000 after buying an additional 483 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Corcept Therapeutics in the 4th quarter valued at about $69,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Insiders Place Their Bets

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 35,102 shares of Corcept Therapeutics stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,982,335 shares of the company's stock, valued at approximately $282,486,771.20. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Maduck sold 18,303 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the sale, the insider now directly owns 85,622 shares of the company's stock, valued at approximately $5,196,399.18. The trade was a 17.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,124 shares of company stock valued at $15,074,318 in the last ninety days. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT traded down $4.92 during mid-day trading on Friday, hitting $74.45. 2,540,279 shares of the stock traded hands, compared to its average volume of 1,099,324. The company has a market cap of $7.85 billion, a PE ratio of 59.09 and a beta of 0.14. Corcept Therapeutics Incorporated has a twelve month low of $20.84 and a twelve month high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The firm has a 50 day simple moving average of $64.81 and a two-hundred day simple moving average of $56.50.

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

Corcept Therapeutics 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.