Mutual of America Capital Management LLC Grows Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Mutual of America Capital Management LLC grew its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORTGet Rating) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,738 shares of the biotechnology company’s stock after purchasing an additional 783 shares during the period. Mutual of America Capital Management LLC’s holdings in Corcept Therapeutics were worth $309,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Point72 Hong Kong Ltd grew its position in shares of Corcept Therapeutics by 283.1% during the 4th quarter. Point72 Hong Kong Ltd now owns 7,707 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 5,695 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at $216,000. O Shaughnessy Asset Management LLC grew its position in shares of Corcept Therapeutics by 9.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,761 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 973 shares in the last quarter. Cim LLC purchased a new position in shares of Corcept Therapeutics during the 1st quarter valued at $234,000. Finally, Natixis Advisors L.P. purchased a new position in shares of Corcept Therapeutics during the 4th quarter valued at $235,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CORT has been the subject of several research reports. StockNews.com upgraded shares of Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 28th. Jefferies Financial Group upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $21.00 to $35.00 in a research report on Wednesday, July 27th. Finally, Truist Financial lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Monday. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $31.00.

Corcept Therapeutics Stock Down 4.6 %

NASDAQ CORT opened at $27.33 on Tuesday. The company has a 50-day simple moving average of $24.06 and a two-hundred day simple moving average of $22.57. Corcept Therapeutics Incorporated has a 12-month low of $15.82 and a 12-month high of $29.93. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.88 and a beta of 0.51.

Corcept Therapeutics (NASDAQ:CORTGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Corcept Therapeutics had a net margin of 29.42% and a return on equity of 24.23%. The business had revenue of $93.70 million for the quarter, compared to analysts’ expectations of $103.23 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts expect that Corcept Therapeutics Incorporated will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $27.37, for a total transaction of $684,250.00. Following the completion of the transaction, the insider now directly owns 40,024 shares of the company’s stock, valued at $1,095,456.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Gary Charles Robb sold 28,745 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $19.55, for a total transaction of $561,964.75. Following the completion of the transaction, the insider now directly owns 42,701 shares of the company’s stock, valued at $834,804.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 25,000 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $27.37, for a total transaction of $684,250.00. Following the transaction, the insider now directly owns 40,024 shares of the company’s stock, valued at $1,095,456.88. The disclosure for this sale can be found here. Insiders sold a total of 384,780 shares of company stock worth $9,889,303 over the last three months. Company insiders own 16.50% of the company’s stock.

Corcept Therapeutics Profile

(Get Rating)

Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.

Featured Stories

Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

Receive News & Ratings for Corcept Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.