Teacher Retirement System of Texas Sells 4,394 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Teacher Retirement System of Texas lowered its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 17.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,137 shares of the biotechnology company’s stock after selling 4,394 shares during the quarter. Teacher Retirement System of Texas’ holdings in Corcept Therapeutics were worth $654,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CORT. FMR LLC lifted its position in shares of Corcept Therapeutics by 102.4% in the third quarter. FMR LLC now owns 683,924 shares of the biotechnology company’s stock worth $18,634,000 after buying an additional 346,000 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Corcept Therapeutics by 996.5% during the 3rd quarter. Acadian Asset Management LLC now owns 318,027 shares of the biotechnology company’s stock worth $8,653,000 after acquiring an additional 289,023 shares in the last quarter. Burney Co. boosted its position in shares of Corcept Therapeutics by 40.2% during the 3rd quarter. Burney Co. now owns 401,263 shares of the biotechnology company’s stock valued at $10,932,000 after acquiring an additional 115,006 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Corcept Therapeutics in the third quarter valued at $1,960,000. Finally, EAM Investors LLC bought a new stake in Corcept Therapeutics in the third quarter worth $1,629,000. Hedge funds and other institutional investors own 93.61% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 50,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the transaction, the insider now directly owns 85,222 shares in the company, valued at $2,386,216. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Sean Maduck sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now owns 85,222 shares in the company, valued at $2,386,216. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Douglas Lyon sold 5,443 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $26.00, for a total value of $141,518.00. Following the transaction, the insider now owns 7,314 shares in the company, valued at $190,164. The disclosure for this sale can be found here. Insiders have sold a total of 121,572 shares of company stock worth $3,211,123 over the last quarter. Company insiders own 20.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CORT. Truist Financial lifted their price objective on shares of Corcept Therapeutics from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, HC Wainwright upped their price objective on Corcept Therapeutics from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $40.10.

Corcept Therapeutics Trading Down 1.1 %

CORT stock opened at $27.52 on Friday. The stock has a market cap of $2.87 billion, a PE ratio of 25.96 and a beta of 0.50. Corcept Therapeutics Incorporated has a 12 month low of $20.84 and a 12 month high of $34.28. The company has a 50-day moving average price of $25.02 and a 200 day moving average price of $25.21.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Corcept Therapeutics had a return on equity of 24.19% and a net margin of 22.38%. The firm had revenue of $146.80 million for the quarter, compared to analysts’ expectations of $141.19 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was up 38.9% on a year-over-year basis. Sell-side analysts forecast that Corcept Therapeutics Incorporated will post 0.95 EPS 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.