Retirement Guys Formula LLC Sells 634 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Retirement Guys Formula LLC lessened its stake in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 12.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,444 shares of the biotechnology company’s stock after selling 634 shares during the period. Retirement Guys Formula LLC’s holdings in Corcept Therapeutics were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Corcept Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 3,519,263 shares of the biotechnology company’s stock valued at $162,871,000 after purchasing an additional 19,893 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Corcept Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,378,758 shares of the biotechnology company’s stock valued at $110,108,000 after purchasing an additional 99,470 shares during the last quarter. FMR LLC boosted its holdings in shares of Corcept Therapeutics by 24.6% during the 3rd quarter. FMR LLC now owns 1,363,922 shares of the biotechnology company’s stock valued at $63,122,000 after purchasing an additional 269,074 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Corcept Therapeutics by 40.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,223,781 shares of the biotechnology company’s stock valued at $56,637,000 after purchasing an additional 352,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Corcept Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,026,487 shares of the biotechnology company’s stock valued at $47,506,000 after acquiring an additional 53,191 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CORT. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a report on Friday, February 7th. Canaccord Genuity Group increased their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research report on Friday, October 18th. Finally, StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $88.25.

Corcept Therapeutics Stock Performance

Shares of NASDAQ:CORT opened at $68.11 on Wednesday. The firm has a market cap of $7.14 billion, a PE ratio of 54.06 and a beta of 0.58. The firm’s 50 day simple moving average is $57.27 and its 200-day simple moving average is $48.73. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $71.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Insider Transactions at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now directly owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This trade represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.54, for a total transaction of $111,188.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,811 shares of company stock valued at $1,329,832. 20.50% of the stock is currently owned by company insiders.

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.