Hussman Strategic Advisors Inc. Has $1.71 Million Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Hussman Strategic Advisors Inc. cut its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,500 shares of the biotechnology company’s stock after selling 10,500 shares during the period. Hussman Strategic Advisors Inc. owned approximately 0.05% of Corcept Therapeutics worth $1,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Corcept Therapeutics during the fourth quarter valued at $15,648,000. Vanguard Group Inc. increased its holdings in shares of Corcept Therapeutics by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,332,077 shares of the biotechnology company’s stock valued at $264,915,000 after purchasing an additional 458,414 shares during the period. BlackRock Inc. lifted its position in shares of Corcept Therapeutics by 2.5% in the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock worth $347,366,000 after purchasing an additional 376,774 shares in the last quarter. FMR LLC boosted its holdings in shares of Corcept Therapeutics by 102.4% during the third quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock worth $18,634,000 after purchasing an additional 346,000 shares during the period. Finally, Morgan Stanley grew its position in Corcept Therapeutics by 31.9% during the third quarter. Morgan Stanley now owns 1,225,047 shares of the biotechnology company’s stock valued at $33,376,000 after purchasing an additional 296,015 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Sean Maduck sold 27,068 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the transaction, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sean Maduck sold 27,068 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.97, for a total transaction of $702,955.96. Following the completion of the transaction, the insider now owns 74,455 shares of the company’s stock, valued at approximately $1,933,596.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Joseph Douglas Lyon sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.00, for a total value of $26,000.00. Following the transaction, the chief accounting officer now directly owns 6,774 shares of the company’s stock, valued at approximately $176,124. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,783 shares of company stock valued at $2,118,996. Insiders own 18.60% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $22.77 on Monday. Corcept Therapeutics Incorporated has a fifty-two week low of $20.87 and a fifty-two week high of $34.28. The business has a 50-day moving average of $23.93 and a two-hundred day moving average of $25.47. The stock has a market capitalization of $2.37 billion, a P/E ratio of 23.97 and a beta of 0.48.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Corcept Therapeutics had a return on equity of 21.98% and a net margin of 21.86%. The company had revenue of $135.41 million during the quarter, compared to analysts’ expectations of $129.27 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, research analysts expect that Corcept Therapeutics Incorporated will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. HC Wainwright dropped their price target on shares of Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 17th. Finally, Truist Financial boosted their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Corcept Therapeutics has an average rating of “Buy” and a consensus price target of $37.30.

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.