Capital Impact Advisors LLC boosted its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 30.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,989 shares of the biotechnology company’s stock after acquiring an additional 35,550 shares during the period. Capital Impact Advisors LLC owned 0.13% of Corcept Therapeutics worth $2,101,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of CORT. Asset Management One Co. Ltd. acquired a new position in Corcept Therapeutics during the 1st quarter worth approximately $150,000. Stifel Financial Corp acquired a new stake in shares of Corcept Therapeutics in the 1st quarter worth approximately $182,000. Fox Run Management L.L.C. acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter worth approximately $211,000. Engineers Gate Manager LP acquired a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $213,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Corcept Therapeutics in the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 75.20% of the company’s stock.
CORT stock traded down $0.37 on Friday, reaching $13.01. The company had a trading volume of 1,231,630 shares, compared to its average volume of 1,269,341. Corcept Therapeutics Incorporated has a 1 year low of $11.21 and a 1 year high of $25.96. The firm has a market cap of $1.60 billion, a P/E ratio of 29.57 and a beta of 1.80.
A number of research firms recently weighed in on CORT. ValuEngine cut Corcept Therapeutics from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. B. Riley lowered their price target on Corcept Therapeutics from $30.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, August 13th. BidaskClub cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 price target on shares of Corcept Therapeutics in a report on Friday, November 2nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $11.00 price target (down previously from $20.00) on shares of Corcept Therapeutics in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.83.
In other news, Director G Leonard Baker, Jr. bought 35,681 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average cost of $12.92 per share, with a total value of $460,998.52. Following the transaction, the director now owns 876,838 shares of the company’s stock, valued at approximately $11,328,746.96. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert S. Fishman sold 8,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $13.74, for a total value of $109,920.00. Following the completion of the transaction, the insider now directly owns 8,000 shares in the company, valued at $109,920. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 321,159 shares of company stock worth $4,025,880 and sold 24,000 shares worth $332,000. 15.00% of the stock is currently owned by corporate insiders.
Corcept Therapeutics Profile
Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric 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, as well as develops CLIA-validated assay to measure FKBP5 gene expression.
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