Corcept Therapeutics Incorporated $CORT Shares Sold by Cwm LLC

Cwm LLC trimmed its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,993 shares of the biotechnology company’s stock after selling 201 shares during the period. Cwm LLC’s holdings in Corcept Therapeutics were worth $880,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CORT. GAMMA Investing LLC lifted its stake in shares of Corcept Therapeutics by 13.7% in the 1st quarter. GAMMA Investing LLC now owns 3,407 shares of the biotechnology company’s stock valued at $389,000 after purchasing an additional 411 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Corcept Therapeutics by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,954 shares of the biotechnology company’s stock worth $909,000 after buying an additional 230 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Corcept Therapeutics during the first quarter worth $580,000. Oppenheimer & Co. Inc. grew its holdings in shares of Corcept Therapeutics by 39.0% in the first quarter. Oppenheimer & Co. Inc. now owns 22,246 shares of the biotechnology company’s stock valued at $2,541,000 after purchasing an additional 6,246 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Corcept Therapeutics in the first quarter valued at about $384,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Corcept Therapeutics Stock Down 2.3%

NASDAQ:CORT opened at $73.65 on Thursday. The company has a market capitalization of $7.76 billion, a PE ratio of 65.18 and a beta of 0.46. Corcept Therapeutics Incorporated has a 52-week low of $42.01 and a 52-week high of $117.33. The stock has a fifty day simple moving average of $76.20 and a 200-day simple moving average of $73.04.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other Corcept Therapeutics news, insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $89.94, for a total value of $1,798,800.00. Following the completion of the sale, the insider owned 5,287 shares in the company, valued at $475,512.78. The trade was a 79.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $85.06, for a total value of $1,701,200.00. Following the completion of the sale, the insider owned 7,904 shares of the company’s stock, valued at $672,314.24. This trade represents a 71.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 292,451 shares of company stock worth $21,850,930 over the last ninety days. Insiders own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

CORT has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $145.00 target price on shares of Corcept Therapeutics in a research report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a report on Thursday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Wednesday, October 8th. Zacks Research lowered shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Corcept Therapeutics Company 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.