Versor Investments LP Purchases New Holdings in Corcept Therapeutics Incorporated $CORT

Versor Investments LP acquired a new position in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,712 shares of the biotechnology company’s stock, valued at approximately $1,223,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Corcept Therapeutics by 18.9% in the first quarter. Royal Bank of Canada now owns 15,385 shares of the biotechnology company’s stock valued at $1,757,000 after purchasing an additional 2,444 shares in the last quarter. Amundi acquired a new position in Corcept Therapeutics during the first quarter valued at $450,000. NewEdge Advisors LLC purchased a new stake in Corcept Therapeutics in the 1st quarter worth about $518,000. Truist Financial Corp lifted its stake in Corcept Therapeutics by 23.6% in the 2nd quarter. Truist Financial Corp now owns 3,309 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 631 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in Corcept Therapeutics by 3.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 6,175 shares of the biotechnology company’s stock worth $453,000 after acquiring an additional 205 shares during the period. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, insider Sean Maduck sold 20,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $79.52, for a total value of $1,590,400.00. Following the completion of the sale, the insider owned 7,904 shares of the company’s stock, valued at $628,526.08. The trade was a 71.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Guyer sold 20,000 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $40.87, for a total value of $817,400.00. Following the transaction, the insider directly owned 1,235 shares in the company, valued at approximately $50,474.45. This represents a 94.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 129,500 shares of company stock valued at $8,665,500. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Stock Performance

CORT stock opened at $41.31 on Tuesday. The company has a quick ratio of 3.07, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 46.94 and a beta of 0.25. Corcept Therapeutics Incorporated has a 12 month low of $32.99 and a 12 month high of $117.33. The firm has a 50 day moving average of $57.40 and a two-hundred day moving average of $68.89.

Analyst Upgrades and Downgrades

CORT has been the topic of a number of research reports. UBS Group began coverage on Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price on the stock. HC Wainwright upped their price objective on shares of Corcept Therapeutics from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $99.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Finally, Truist Financial set a $50.00 price objective on Corcept Therapeutics in a report on Wednesday, December 31st. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.50.

About Corcept Therapeutics

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.