Alpha DNA Investment Management LLC Invests $464,000 in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Alpha DNA Investment Management LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,016 shares of the biotechnology company’s stock, valued at approximately $464,000.

Several other hedge funds also recently modified their holdings of CORT. Vanguard Group Inc. raised its position in Corcept Therapeutics by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,565,782 shares of the biotechnology company’s stock valued at $240,962,000 after purchasing an additional 28,250 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Corcept Therapeutics by 27.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,344 shares of the biotechnology company’s stock worth $210,000 after acquiring an additional 1,808 shares during the last quarter. Advisors Asset Management Inc. increased its position in Corcept Therapeutics by 950.2% in the 1st quarter. Advisors Asset Management Inc. now owns 5,587 shares of the biotechnology company’s stock valued at $141,000 after acquiring an additional 5,055 shares during the period. Bayesian Capital Management LP bought a new position in shares of Corcept Therapeutics during the first quarter valued at $703,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Corcept Therapeutics by 482.6% during the first quarter. Janus Henderson Group PLC now owns 265,049 shares of the biotechnology company’s stock worth $6,677,000 after purchasing an additional 219,551 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Activity

In related news, insider Gary Charles Robb sold 11,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.28, for a total value of $509,080.00. Following the sale, the insider now owns 22,772 shares in the company, valued at $1,053,888.16. This represents a 32.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Guyer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.30, for a total transaction of $353,000.00. Following the completion of the transaction, the insider now directly owns 6,039 shares in the company, valued at approximately $213,176.70. The trade was a 62.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,200 shares of company stock worth $1,483,516 in the last three months. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of CORT opened at $57.54 on Monday. The firm has a market cap of $6.03 billion, a PE ratio of 45.67 and a beta of 0.45. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $61.66. The business’s 50 day moving average price is $48.41 and its two-hundred day moving average price is $38.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Corcept Therapeutics had a net margin of 22.35% and a return on equity of 24.54%. The company had revenue of $182.55 million for the quarter, compared to the consensus estimate of $171.97 million. During the same quarter in the previous year, the company earned $0.28 EPS. Corcept Therapeutics’s quarterly revenue was up 47.7% compared to the same quarter last year. On average, equities analysts anticipate that Corcept Therapeutics Incorporated will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CORT shares. Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 30th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Thursday, October 31st. StockNews.com upgraded Corcept Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 target price on shares of Corcept Therapeutics in a research report on Tuesday, July 30th. Finally, Piper Sandler boosted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $65.25.

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.