Dupont Capital Management Corp decreased its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,167 shares of the biotechnology company’s stock after selling 3,051 shares during the quarter. Dupont Capital Management Corp’s holdings in Corcept Therapeutics were worth $575,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its position in shares of Corcept Therapeutics by 22.7% in the first quarter. Mutual of America Capital Management LLC now owns 4,539 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 839 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Corcept Therapeutics by 30.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,864 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 1,849 shares during the period. Magnus Financial Group LLC purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $124,000. Two Sigma Investments LP purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $125,000. Finally, Spearhead Capital Advisors LLC purchased a new position in shares of Corcept Therapeutics during the first quarter valued at about $156,000. Hedge funds and other institutional investors own 76.09% of the company’s stock.
Shares of NASDAQ CORT opened at $14.95 on Friday. The firm’s 50 day moving average price is $16.35 and its 200-day moving average price is $13.76. The company has a market cap of $1.71 billion, a PE ratio of 16.99 and a beta of 1.15. Corcept Therapeutics Incorporated has a 52-week low of $9.70 and a 52-week high of $18.52.
In other Corcept Therapeutics news, Director G Leonard Baker, Jr. sold 30,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $15.70, for a total value of $471,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel N. Swisher, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $16.48, for a total transaction of $82,400.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $82,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,000 shares of company stock worth $633,900. 16.40% of the stock is owned by insiders.
Several equities analysts recently issued reports on the stock. BidaskClub cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine cut shares of Corcept Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd. Zacks Investment Research cut shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a report on Tuesday, June 23rd. Finally, TheStreet upgraded shares of Corcept Therapeutics from a “c+” rating to a “b-” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.25.
Corcept Therapeutics Profile
Corcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery.
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