40,000 Shares in Corcept Therapeutics Incorporated $CORT Purchased by Clutterbuck Capital Management LLC

Clutterbuck Capital Management LLC acquired a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,000 shares of the biotechnology company’s stock, valued at approximately $1,392,000. Corcept Therapeutics comprises 1.2% of Clutterbuck Capital Management LLC’s investment portfolio, making the stock its 4th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in Corcept Therapeutics during the fourth quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in Corcept Therapeutics during the third quarter worth about $25,000. Clearstead Advisors LLC increased its position in Corcept Therapeutics by 163.6% during the third quarter. Clearstead Advisors LLC now owns 311 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 193 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Corcept Therapeutics during the fourth quarter worth about $31,000. Finally, Hantz Financial Services Inc. increased its position in Corcept Therapeutics by 113.7% during the fourth 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. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

Shares of CORT stock opened at $82.91 on Friday. The firm has a market cap of $8.90 billion, a PE ratio of 236.89 and a beta of 0.50. The company has a 50-day moving average of $55.70 and a two-hundred day moving average of $52.26. Corcept Therapeutics Incorporated has a 1-year low of $28.66 and a 1-year high of $91.00.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The company had revenue of $164.90 million for the quarter, compared to analysts’ expectations of $185.83 million. Corcept Therapeutics had a return on equity of 7.40% and a net margin of 6.14%.The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. Sell-side analysts anticipate that Corcept Therapeutics Incorporated will post 0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Atabak Mokari sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $70.00, for a total value of $2,800,000.00. Following the completion of the transaction, the chief financial officer owned 15,257 shares of the company’s stock, valued at approximately $1,067,990. This trade represents a 72.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Maduck sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $65.59, for a total transaction of $4,919,250.00. Following the completion of the transaction, the insider directly owned 8,977 shares of the company’s stock, valued at approximately $588,801.43. The trade was a 89.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 242,965 shares of company stock valued at $14,802,964. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CORT shares. Wolfe Research upgraded shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, March 26th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Piper Sandler increased their target price on shares of Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. UBS Group set a $135.00 target price on shares of Corcept Therapeutics in a research note on Thursday, May 28th. Finally, Zacks Research raised shares of Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.