Emerald Mutual Fund Advisers Trust Sells 14,742 Shares of Corcept Therapeutics Incorporated $CORT

Emerald Mutual Fund Advisers Trust trimmed its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 7.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,607 shares of the biotechnology company’s stock after selling 14,742 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Corcept Therapeutics were worth $7,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CORT. Royal Bank of Canada raised its position in Corcept Therapeutics by 18.9% in the 1st quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after buying an additional 2,444 shares during the last quarter. Amundi bought a new position in Corcept Therapeutics during the first quarter worth $450,000. NewEdge Advisors LLC acquired a new position in Corcept Therapeutics in the 1st quarter valued at about $518,000. EverSource Wealth Advisors LLC increased its stake in shares of Corcept Therapeutics by 273.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,441 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 1,055 shares during the period. Finally, Marshall Wace LLP increased its position in Corcept Therapeutics by 795.3% during the 2nd quarter. Marshall Wace LLP now owns 46,200 shares of the biotechnology company’s stock worth $3,391,000 after buying an additional 41,040 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Transactions at Corcept Therapeutics

In other Corcept Therapeutics news, Director James N. Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $83.20, for a total transaction of $832,000.00. Following the completion of the transaction, the director owned 1,094,543 shares in the company, valued at $91,065,977.60. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Atabak Mokari sold 40,000 shares of Corcept Therapeutics stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.15, for a total transaction of $3,246,000.00. Following the completion of the transaction, the chief financial officer owned 16,130 shares of the company’s stock, valued at $1,308,949.50. This represents a 71.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 300,000 shares of company stock worth $22,088,050. Company insiders own 20.70% of the company’s stock.

Corcept Therapeutics Stock Down 6.5%

Shares of NASDAQ:CORT opened at $85.90 on Tuesday. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 245.44 and a beta of 0.47. The business’s 50 day moving average is $73.41 and its 200 day moving average is $52.58. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $95.11.

Corcept Therapeutics (NASDAQ:CORT) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The firm had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CORT shares. Piper Sandler raised their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. HC Wainwright increased their target price on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Truist Financial upgraded shares of Corcept Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.