Versor Investments LP Lowers Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Versor Investments LP cut its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT - Free Report) by 50.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,200 shares of the biotechnology company's stock after selling 12,600 shares during the period. Versor Investments LP's holdings in Corcept Therapeutics were worth $615,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CORT. Proficio Capital Partners LLC bought a new position in Corcept Therapeutics in the 4th quarter worth $1,597,000. Illinois Municipal Retirement Fund raised its stake in shares of Corcept Therapeutics by 0.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 47,527 shares of the biotechnology company's stock worth $2,395,000 after buying an additional 368 shares during the period. FourThought Financial Partners LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at about $625,000. Y Intercept Hong Kong Ltd bought a new position in shares of Corcept Therapeutics during the 4th quarter valued at approximately $2,117,000. Finally, Black Diamond Financial LLC grew its stake in shares of Corcept Therapeutics by 4.0% during the 4th quarter. Black Diamond Financial LLC now owns 5,200 shares of the biotechnology company's stock valued at $262,000 after acquiring an additional 200 shares during the period. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT traded down $2.40 during midday trading on Tuesday, reaching $56.67. 1,320,317 shares of the company were exchanged, compared to its average volume of 988,323. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $75.00. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $60.12 and its two-hundred day moving average is $51.82. The stock has a market cap of $5.98 billion, a PE ratio of 45.03 and a beta of 0.58.

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

Analyst Ratings Changes

CORT has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $67.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. StockNews.com cut shares of Corcept Therapeutics from a "buy" rating to a "hold" rating in a research note on Friday. HC Wainwright reiterated a "buy" rating and issued a $115.00 price target on shares of Corcept Therapeutics in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, January 30th. One 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 an average rating of "Moderate Buy" and a consensus price target of $99.75.

Insider Activity at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the sale, the insider now owns 85,318 shares of the company's stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $59.46, for a total transaction of $130,812.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,600 shares of company stock valued at $1,399,576. Insiders own 20.50% of the company's stock.

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.