Y Intercept Hong Kong Ltd Takes $2.12 Million Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Y Intercept Hong Kong Ltd acquired a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 42,018 shares of the biotechnology company’s stock, valued at approximately $2,117,000.

Several other large investors also recently made changes to their positions in CORT. Capital Performance Advisors LLP acquired a new stake in shares of Corcept Therapeutics in the 3rd quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $27,000. USA Financial Formulas acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $54,000. Newbridge Financial Services Group Inc. acquired a new stake in Corcept Therapeutics during the 4th quarter valued at $58,000. Finally, Principal Securities Inc. lifted its holdings in Corcept Therapeutics by 63.6% during the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 483 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Stock Down 2.7 %

CORT stock opened at $61.81 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 49.06 and a beta of 0.58. The business’s fifty day moving average price is $59.26 and its two-hundred day moving average price is $50.88. Corcept Therapeutics Incorporated has a fifty-two week low of $20.84 and a fifty-two week high of $75.00.

Insiders Place Their Bets

In related news, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.54, for a total value of $111,188.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total value of $1,007,800.00. Following the completion of the transaction, the insider now owns 85,318 shares in the company, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock worth $1,399,576 in the last 90 days. Company insiders own 20.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CORT shares. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Canaccord Genuity Group raised their price target on Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Corcept Therapeutics in a report on Friday, February 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Corcept Therapeutics presently has a consensus rating of “Buy” and an average target price of $88.25.

Corcept Therapeutics 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.