Dimensional Fund Advisors LP increased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 41.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,204,325 shares of the biotechnology company’s stock after purchasing an additional 355,006 shares during the quarter. Dimensional Fund Advisors LP owned 1.06% of Corcept Therapeutics worth $23,242,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. California Public Employees Retirement System boosted its holdings in Corcept Therapeutics by 3.6% in the second quarter. California Public Employees Retirement System now owns 148,200 shares of the biotechnology company’s stock worth $1,749,000 after purchasing an additional 5,200 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Corcept Therapeutics by 21.5% during the 2nd quarter. Rhumbline Advisers now owns 87,672 shares of the biotechnology company’s stock worth $1,035,000 after acquiring an additional 15,494 shares during the last quarter. Shaker Investments LLC OH purchased a new position in shares of Corcept Therapeutics during the 3rd quarter worth $2,202,000. Sei Investments Co. boosted its stake in shares of Corcept Therapeutics by 344.8% during the 3rd quarter. Sei Investments Co. now owns 17,562 shares of the biotechnology company’s stock worth $339,000 after acquiring an additional 13,614 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Corcept Therapeutics by 46.2% during the 2nd quarter. Voya Investment Management LLC now owns 41,598 shares of the biotechnology company’s stock worth $491,000 after acquiring an additional 13,145 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.
In other news, insider Robert S. Fishman sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $16.60, for a total value of $132,800.00. Following the sale, the insider now directly owns 8,000 shares in the company, valued at approximately $132,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 24,000 shares of company stock worth $415,920. Insiders own 19.20% of the company’s stock.
Corcept Therapeutics Incorporated (NASDAQ:CORT) traded up $0.61 during trading on Monday, hitting $15.20. 2,790,000 shares of the stock were exchanged, compared to its average volume of 2,430,000. Corcept Therapeutics Incorporated has a 12-month low of $8.07 and a 12-month high of $25.96. The company has a market cap of $1,730.00, a P/E ratio of 52.41 and a beta of 1.68.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 7th. Piper Jaffray Companies set a $30.00 price objective on shares of Corcept Therapeutics and gave the company a “buy” rating in a research report on Monday, February 5th. Stifel Nicolaus reduced their price target on shares of Corcept Therapeutics from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Finally, Zacks Investment Research downgraded shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Corcept Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $21.00.
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Corcept Therapeutics Profile
Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).
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