Profund Advisors LLC Acquires 8,700 Shares of Corcept Therapeutics Incorporated $CORT

Profund Advisors LLC raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 130.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,351 shares of the biotechnology company’s stock after buying an additional 8,700 shares during the period. Profund Advisors LLC’s holdings in Corcept Therapeutics were worth $1,769,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Corcept Therapeutics during the second quarter valued at approximately $1,080,964,000. Parallel Advisors LLC grew its holdings in shares of Corcept Therapeutics by 2.5% during the first quarter. Parallel Advisors LLC now owns 3,977,404 shares of the biotechnology company’s stock valued at $160,329,000 after buying an additional 96,763 shares in the last quarter. First Trust Advisors LP raised its position in Corcept Therapeutics by 213.5% during the first quarter. First Trust Advisors LP now owns 2,173,376 shares of the biotechnology company’s stock valued at $87,609,000 after buying an additional 1,480,059 shares during the period. Bank of New York Mellon Corp acquired a new position in Corcept Therapeutics during the second quarter valued at $49,185,000. Finally, Bank of America Corp DE acquired a new position in Corcept Therapeutics during the second quarter valued at $28,569,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CORT shares. Truist Financial initiated coverage on Corcept Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating and a $164.00 price objective for the company. Wall Street Zen upgraded Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded shares of Corcept Therapeutics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a research report on Monday, July 27th. Finally, Zacks Research cut shares of Corcept Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 27th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Corcept Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $138.17.

Corcept Therapeutics Price Performance

CORT opened at $80.46 on Tuesday. The company has a market capitalization of $8.70 billion, a PE ratio of 191.58 and a beta of 0.40. Corcept Therapeutics Incorporated has a fifty-two week low of $28.66 and a fifty-two week high of $126.38. The business has a 50-day moving average of $111.14 and a 200-day moving average of $74.84.

Insider Transactions at Corcept Therapeutics

In related news, insider William Guyer sold 16,300 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $452,018.55. This trade represents a 80.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Maduck sold 30,955 shares of Corcept Therapeutics stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $125.58, for a total transaction of $3,887,328.90. Following the completion of the sale, the insider owned 9,755 shares of the company’s stock, valued at $1,225,032.90. This trade represents a 76.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 349,203 shares of company stock valued at $40,686,076 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Corcept Therapeutics Profile

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.