Summit Global Investments Purchases 11,996 Shares of Corcept Therapeutics Incorporated $CORT

Summit Global Investments purchased a new stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,996 shares of the biotechnology company’s stock, valued at approximately $1,382,000.

A number of other hedge funds also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Corcept Therapeutics in the second quarter worth $27,000. Root Financial Partners LLC bought a new position in Corcept Therapeutics during the 3rd quarter worth $85,000. State of Wyoming lifted its holdings in Corcept Therapeutics by 29.5% during the 1st quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock worth $33,000 after buying an additional 186 shares during the period. IFP Advisors Inc lifted its holdings in Corcept Therapeutics by 568.4% during the 2nd quarter. IFP Advisors Inc now owns 909 shares of the biotechnology company’s stock worth $79,000 after buying an additional 773 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in Corcept Therapeutics during the 2nd quarter worth about $87,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In related news, insider William Guyer sold 16,300 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.43, for a total transaction of $1,848,909.00. Following the transaction, the insider owned 3,985 shares in the company, valued at $452,018.55. The trade was a 80.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Mahoney sold 103,606 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $118.25, for a total transaction of $12,251,409.50. Following the transaction, the director owned 1,133,539 shares in the company, valued at $134,040,986.75. The trade was a 8.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 352,903 shares of company stock valued at $41,104,620. 20.70% of the stock is owned by insiders.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $81.12 on Monday. The business has a 50 day simple moving average of $111.98 and a 200 day simple moving average of $74.62. Corcept Therapeutics Incorporated has a one year low of $28.66 and a one year high of $126.38. The stock has a market capitalization of $8.77 billion, a P/E ratio of 193.15 and a beta of 0.54.

Analysts Set New Price Targets

CORT has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $165.00 price target on shares of Corcept Therapeutics in a research report on Friday, September 18th. Canaccord Genuity Group boosted their price target on shares of Corcept Therapeutics from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wolfe Research lowered shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research note on Monday, July 27th. Wall Street Zen upgraded shares of Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Truist Financial began coverage on shares of Corcept Therapeutics in a research note on Tuesday, August 18th. They set a “buy” rating and a $164.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.17.

About Corcept Therapeutics

Corcept Therapeutics Incorporated (NASDAQ:CORT) is a commercial-stage biopharmaceutical company focused on developing medicines that selectively modulate the glucocorticoid receptor. The company’s research is based on the role of excess cortisol in metabolic, psychiatric, oncologic and other serious medical conditions.

Corcept’s primary marketed product is Korlym (mifepristone), an oral glucocorticoid receptor antagonist approved in the United States to control hyperglycemia secondary to endogenous Cushing’s syndrome in adults with type 2 diabetes or glucose intolerance who are not candidates for surgery or have not responded adequately to surgery.