AQR Capital Management LLC Sells 39,364 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

AQR Capital Management LLC reduced its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,591 shares of the biotechnology company’s stock after selling 39,364 shares during the period. AQR Capital Management LLC owned 0.26% of Corcept Therapeutics worth $13,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC lifted its stake in shares of Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Corcept Therapeutics in the 4th quarter worth about $4,483,000. Burney Co. increased its stake in shares of Corcept Therapeutics by 9.1% in the 4th quarter. Burney Co. now owns 473,821 shares of the biotechnology company’s stock worth $23,876,000 after acquiring an additional 39,657 shares in the last quarter. HighTower Advisors LLC lifted its position in Corcept Therapeutics by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 93,677 shares of the biotechnology company’s stock valued at $4,720,000 after acquiring an additional 22,011 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Corcept Therapeutics by 43.4% during the third quarter. JPMorgan Chase & Co. now owns 253,070 shares of the biotechnology company’s stock worth $11,712,000 after acquiring an additional 76,573 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corcept Therapeutics

In other Corcept Therapeutics news, CEO Joseph K. Belanoff sold 35,102 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $94.72, for a total transaction of $3,324,861.44. Following the sale, the chief executive officer now owns 2,982,335 shares in the company, valued at approximately $282,486,771.20. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Maduck sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $100.54, for a total transaction of $10,054,000.00. Following the completion of the transaction, the insider now owns 85,622 shares of the company’s stock, valued at approximately $8,608,435.88. The trade was a 53.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 229,678 shares of company stock worth $19,951,609. 20.50% of the stock is owned by insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $73.94 on Tuesday. The business has a 50-day simple moving average of $65.91 and a two-hundred day simple moving average of $60.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 58.68 and a beta of 0.22. Corcept Therapeutics Incorporated has a fifty-two week low of $23.02 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $157.21 million for the quarter, compared to analysts’ expectations of $177.93 million. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. On average, analysts expect that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CORT shares. HC Wainwright lifted their target price on shares of Corcept Therapeutics from $115.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 31st. Truist Financial raised their price target on Corcept Therapeutics from $76.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 31st. Canaccord Genuity Group upped their price target on shares of Corcept Therapeutics from $130.00 to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. StockNews.com downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Piper Sandler lifted their target price on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Corcept Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $143.25.

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.