Cerity Partners LLC Sells 436,175 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Cerity Partners LLC trimmed its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 85.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 74,067 shares of the biotechnology company’s stock after selling 436,175 shares during the quarter. Cerity Partners LLC’s holdings in Corcept Therapeutics were worth $2,406,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Corcept Therapeutics by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 216,081 shares of the biotechnology company’s stock worth $4,866,000 after purchasing an additional 5,036 shares during the last quarter. American Century Companies Inc. boosted its position in Corcept Therapeutics by 8.2% during the 1st quarter. American Century Companies Inc. now owns 88,553 shares of the biotechnology company’s stock valued at $1,994,000 after buying an additional 6,684 shares during the period. Citigroup Inc. grew its holdings in Corcept Therapeutics by 15.0% in the 1st quarter. Citigroup Inc. now owns 103,241 shares of the biotechnology company’s stock worth $2,325,000 after acquiring an additional 13,488 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Corcept Therapeutics by 56.7% in the first quarter. Natixis Advisors L.P. now owns 18,581 shares of the biotechnology company’s stock valued at $418,000 after acquiring an additional 6,726 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Corcept Therapeutics by 3.3% during the first quarter. Acadian Asset Management LLC now owns 31,845 shares of the biotechnology company’s stock valued at $716,000 after acquiring an additional 1,032 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Corcept Therapeutics news, insider Sean Maduck sold 27,068 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 $1,933,596.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Sean Maduck sold 27,068 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.97, for a total value of $702,955.96. Following the sale, the insider now directly owns 74,455 shares of the company’s stock, valued at $1,933,596.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of Corcept Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders have sold 83,783 shares of company stock valued at $2,118,996 over the last quarter. Corporate insiders own 19.80% of the company’s stock.

Corcept Therapeutics Stock Down 1.5 %

NASDAQ CORT opened at $22.66 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of 23.85 and a beta of 0.48. The stock’s 50 day moving average is $23.93 and its 200 day moving average is $25.51. Corcept Therapeutics Incorporated has a twelve month low of $20.87 and a twelve month high of $34.28.

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

Wall Street Analysts Forecast Growth

CORT has been the topic of a number of research analyst reports. HC Wainwright reduced their price target on Corcept Therapeutics from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. Truist Financial upped their price target on Corcept Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, StockNews.com lowered Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Corcept Therapeutics currently has a consensus 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.