Renaissance Technologies LLC Lowers Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Renaissance Technologies LLC trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,912,571 shares of the biotechnology company’s stock after selling 205,800 shares during the quarter. Renaissance Technologies LLC owned approximately 6.64% of Corcept Therapeutics worth $224,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CORT. GAMMA Investing LLC lifted its holdings in shares of Corcept Therapeutics by 90.6% in the first quarter. GAMMA Investing LLC now owns 1,218 shares of the biotechnology company’s stock worth $31,000 after buying an additional 579 shares in the last quarter. Park Place Capital Corp purchased a new stake in shares of Corcept Therapeutics in the second quarter worth about $32,000. Atwood & Palmer Inc. purchased a new stake in shares of Corcept Therapeutics in the second quarter worth about $35,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Corcept Therapeutics by 318.7% in the first quarter. FinTrust Capital Advisors LLC now owns 1,771 shares of the biotechnology company’s stock worth $45,000 after buying an additional 1,348 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Corcept Therapeutics by 27.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,107 shares of the biotechnology company’s stock worth $68,000 after buying an additional 448 shares in the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CORT. Piper Sandler raised their target price on shares of Corcept Therapeutics from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. HC Wainwright raised their target price on shares of Corcept Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corcept Therapeutics in a research note on Monday, June 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Corcept Therapeutics in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $46.50.

Insider Buying and Selling at Corcept Therapeutics

In other Corcept Therapeutics news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $32.81, for a total value of $72,182.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $32.81, for a total value of $72,182.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Guyer sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.67, for a total value of $386,700.00. Following the transaction, the insider now directly owns 6,039 shares of the company’s stock, valued at approximately $233,528.13. The disclosure for this sale can be found here. Insiders sold 30,451 shares of company stock valued at $1,090,844 in the last quarter. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $38.11 on Monday. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $39.75. The firm’s 50 day simple moving average is $34.36 and its two-hundred day simple moving average is $29.48. The stock has a market capitalization of $3.98 billion, a P/E ratio of 35.95 and a beta of 0.45.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Monday, July 29th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Corcept Therapeutics had a net margin of 21.93% and a return on equity of 23.66%. The business had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $155.14 million. During the same period last year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, equities analysts expect that Corcept Therapeutics Incorporated will post 1.1 earnings per share for the current fiscal year.

Corcept Therapeutics Profile

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.