Assetmark Inc. Sells 6,734 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Assetmark Inc. trimmed its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,577 shares of the biotechnology company’s stock after selling 6,734 shares during the quarter. Assetmark Inc. owned approximately 0.05% of Corcept Therapeutics worth $2,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CORT. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new position in Corcept Therapeutics in the 4th quarter valued at approximately $27,000. USA Financial Formulas bought a new position in shares of Corcept Therapeutics during the fourth quarter valued at $54,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Corcept Therapeutics during the fourth quarter worth $58,000. Finally, Principal Securities Inc. grew its stake in shares of Corcept Therapeutics by 63.6% in the fourth quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 483 shares during the last quarter. 93.61% of the stock is currently owned by institutional investors.

Insider Activity at Corcept Therapeutics

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.08, for a total transaction of $149,776.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean Maduck sold 18,303 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,110,809.07. Following the completion of the transaction, the insider now owns 85,622 shares in the company, valued at approximately $5,196,399.18. The trade was a 17.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,827 shares of company stock worth $2,688,486 in the last quarter. Company insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CORT. StockNews.com lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Piper Sandler raised their price objective on Corcept Therapeutics from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Canaccord Genuity Group upped their target price on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 target price on shares of Corcept Therapeutics in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Corcept Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Corcept Therapeutics Stock Performance

CORT stock opened at $55.40 on Monday. The firm has a market cap of $5.84 billion, a PE ratio of 43.97 and a beta of 0.61. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $60.34 and a 200-day moving average price of $52.41. Corcept Therapeutics Incorporated has a 1-year low of $20.84 and a 1-year high of $75.00.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $181.89 million during the quarter, compared to the consensus estimate of $200.12 million. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. As a group, equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.