Rockefeller Capital Management L.P. Has $2.29 Million Stock Holdings in Corcept Therapeutics Incorporated $CORT

Rockefeller Capital Management L.P. increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 438.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,797 shares of the biotechnology company’s stock after purchasing an additional 53,574 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Corcept Therapeutics were worth $2,290,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CORT. Corient Private Wealth LLC lifted its stake in Corcept Therapeutics by 9.3% in the fourth quarter. Corient Private Wealth LLC now owns 7,035 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 600 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Corcept Therapeutics during the fourth quarter worth $72,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $8,757,000. Virtu Financial LLC acquired a new stake in shares of Corcept Therapeutics during the fourth quarter worth $456,000. Finally, Invesco Ltd. lifted its position in Corcept Therapeutics by 11.5% in the 4th quarter. Invesco Ltd. now owns 816,996 shares of the biotechnology company’s stock valued at $28,431,000 after acquiring an additional 84,413 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CORT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corcept Therapeutics in a research note on Wednesday, June 24th. Wolfe Research raised Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. HC Wainwright boosted their price target on Corcept Therapeutics from $75.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group upped their price objective on Corcept Therapeutics from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Piper Sandler increased their price objective on Corcept Therapeutics from $73.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Corcept Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Insider Activity at Corcept Therapeutics

In related news, Director David L. Mahoney sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $84.53, for a total value of $1,690,600.00. Following the sale, the director owned 26,147 shares of the company’s stock, valued at approximately $2,210,205.91. The trade was a 43.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James N. Wilson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $83.20, for a total value of $832,000.00. Following the sale, the director owned 1,094,543 shares in the company, valued at $91,065,977.60. The trade was a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 275,000 shares of company stock worth $18,836,100. Corporate insiders own 20.70% of the company’s stock.

Corcept Therapeutics Stock Up 0.7%

Shares of CORT stock opened at $87.89 on Tuesday. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $91.00. The company’s fifty day simple moving average is $64.52 and its 200-day simple moving average is $52.14. The firm has a market cap of $9.43 billion, a PE ratio of 251.12 and a beta of 0.50.

Corcept Therapeutics (NASDAQ:CORT) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Corcept Therapeutics had a net margin of 6.14% and a return on equity of 7.40%. The business had revenue of $164.90 million during the quarter, compared to the consensus estimate of $185.83 million. During the same period last year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts predict that Corcept Therapeutics Incorporated will post 0.53 earnings per share for the current fiscal year.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.