Corcept Therapeutics Incorporated (NASDAQ:CORT) Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC lessened its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 26.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 61,254 shares of the biotechnology company’s stock after selling 22,564 shares during the period. Bridge City Capital LLC’s holdings in Corcept Therapeutics were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Voya Investment Management LLC raised its stake in shares of Corcept Therapeutics by 555.6% during the 2nd quarter. Voya Investment Management LLC now owns 237,861 shares of the biotechnology company’s stock worth $5,656,000 after buying an additional 201,582 shares during the last quarter. Advisory Research Inc. acquired a new position in Corcept Therapeutics in the 2nd quarter valued at about $593,000. Russell Investments Group Ltd. raised its stake in Corcept Therapeutics by 6.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 41,673 shares of the biotechnology company’s stock valued at $1,020,000 after purchasing an additional 2,643 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Corcept Therapeutics by 151.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 33,782 shares of the biotechnology company’s stock valued at $803,000 after purchasing an additional 20,360 shares during the last quarter. Finally, Cim LLC raised its stake in Corcept Therapeutics by 7.4% in the 3rd quarter. Cim LLC now owns 14,380 shares of the biotechnology company’s stock valued at $431,000 after purchasing an additional 996 shares during the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.

Insiders Place Their Bets

In other Corcept Therapeutics news, insider Gary Charles Robb sold 4,814 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total value of $125,308.42. Following the transaction, the insider now directly owns 21,329 shares of the company’s stock, valued at approximately $555,193.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Gary Charles Robb sold 4,814 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $26.03, for a total transaction of $125,308.42. Following the sale, the insider now directly owns 21,329 shares of the company’s stock, valued at approximately $555,193.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 25,000 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $25.57, for a total value of $639,250.00. Following the completion of the sale, the insider now directly owns 56,462 shares in the company, valued at $1,443,733.34. The disclosure for this sale can be found here. Insiders sold a total of 40,439 shares of company stock worth $1,040,958 in the last 90 days. 18.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HC Wainwright dropped their price objective on shares of Corcept Therapeutics from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, December 9th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Corcept Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT traded up $0.46 during trading on Wednesday, reaching $23.32. 206,088 shares of the stock were exchanged, compared to its average volume of 562,966. Corcept Therapeutics Incorporated has a 12-month low of $17.19 and a 12-month high of $30.14. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 23.08 and a beta of 0.59. The firm’s 50-day moving average price is $22.25 and its 200 day moving average price is $25.25.

Corcept Therapeutics (NASDAQ:CORT – Get Rating) last issued its earnings results on Thursday, November 3rd. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. Corcept Therapeutics had a return on equity of 27.49% and a net margin of 29.37%. The business had revenue of $101.73 million during the quarter, compared to analysts’ expectations of $107.73 million. As a group, equities research analysts forecast that Corcept Therapeutics Incorporated will post 0.89 EPS for the current year.

Corcept Therapeutics Company Profile

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Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.