Insider Selling: Corcept Therapeutics (NASDAQ:CORT) Insider Sells $418,544.00 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 3,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $113.12, for a total value of $418,544.00. Following the completion of the sale, the insider owned 3,985 shares of the company’s stock, valued at $450,783.20. This trade represents a 48.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

William Guyer also recently made the following trade(s):

• On Tuesday, July 7th, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The stock was sold at an average price of $93.13, for a total value of $1,862,600.00.
• On Tuesday, June 2nd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $70.60, for a total value of $1,412,000.00.

Corcept Therapeutics Stock Performance

CORT traded down $2.74 during trading on Thursday, reaching $107.95. The company had a trading volume of 761,818 shares, compared to its average volume of 1,592,582. The firm’s 50-day simple moving average is $87.69 and its 200 day simple moving average is $58.49. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 257.03 and a beta of 0.45. Corcept Therapeutics Incorporated has a 12-month low of $28.66 and a 12-month high of $122.21.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.02 by $0.34. Corcept Therapeutics had a net margin of 6.52% and a return on equity of 8.26%. The company had revenue of $256.15 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same period last year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, sell-side analysts expect that Corcept Therapeutics Incorporated will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC acquired a new stake in shares of Corcept Therapeutics during the 4th quarter valued at $25,000. Advisory Services Network LLC purchased a new stake in shares of Corcept Therapeutics during the third quarter worth $25,000. Atlas Capital Advisors Inc. acquired a new stake in Corcept Therapeutics during the fourth quarter valued at $31,000. State of Wyoming grew its stake in Corcept Therapeutics by 29.5% in the first quarter. State of Wyoming now owns 816 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 186 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in Corcept Therapeutics by 113.7% in the 4th quarter. Hantz Financial Services Inc. now owns 985 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CORT shares. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $50.00 target price on the stock. in a research note on Monday, July 27th. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen raised Corcept Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. Finally, Truist Financial upgraded Corcept Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.17.

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.