AlphaQuest LLC Decreases Position in Corcept Therapeutics Incorporated $CORT

AlphaQuest LLC trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 55.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,347 shares of the biotechnology company’s stock after selling 4,146 shares during the quarter. AlphaQuest LLC’s holdings in Corcept Therapeutics were worth $382,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mariner LLC raised its holdings in shares of Corcept Therapeutics by 13.6% in the fourth quarter. Mariner LLC now owns 13,362 shares of the biotechnology company’s stock worth $673,000 after acquiring an additional 1,601 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Corcept Therapeutics by 426.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,109 shares of the biotechnology company’s stock valued at $459,000 after acquiring an additional 7,380 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Corcept Therapeutics by 3.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,753 shares of the biotechnology company’s stock valued at $2,760,000 after acquiring an additional 1,825 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Corcept Therapeutics in the fourth quarter valued at $1,668,000. Finally, Northern Trust Corp lifted its position in shares of Corcept Therapeutics by 10.2% in the fourth quarter. Northern Trust Corp now owns 1,015,515 shares of the biotechnology company’s stock valued at $51,172,000 after acquiring an additional 94,128 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $69.73 on Thursday. The firm has a market capitalization of $7.35 billion, a PE ratio of 61.71 and a beta of 0.20. The business has a 50-day moving average of $71.07 and a two-hundred day moving average of $69.45. Corcept Therapeutics Incorporated has a 12 month low of $33.34 and a 12 month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. The company had revenue of $194.43 million during the quarter, compared to analyst estimates of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The firm’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, insider William Guyer sold 35,007 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $71.77, for a total transaction of $2,512,452.39. Following the completion of the sale, the insider directly owned 5,487 shares in the company, valued at $393,801.99. This represents a 86.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sean Maduck sold 35,007 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $67.79, for a total value of $2,373,124.53. Following the sale, the insider owned 7,681 shares of the company’s stock, valued at $520,694.99. This represents a 82.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,215 shares of company stock valued at $16,311,201 over the last three months. Insiders own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the topic of several recent research reports. HC Wainwright reduced their price objective on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Piper Sandler reduced their price objective on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Canaccord Genuity Group reduced their price objective on Corcept Therapeutics from $142.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, Wall Street Zen lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $134.50.

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.