GAMMA Investing LLC Has $151,000 Stock Holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT)

GAMMA Investing LLC increased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 20.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,996 shares of the biotechnology company’s stock after acquiring an additional 506 shares during the period. GAMMA Investing LLC’s holdings in Corcept Therapeutics were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Corcept Therapeutics during the 3rd quarter valued at $25,000. Kathleen S. Wright Associates Inc. acquired a new position in Corcept Therapeutics during the third quarter worth $36,000. KBC Group NV raised its holdings in Corcept Therapeutics by 21.3% during the third quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 496 shares in the last quarter. AA Financial Advisors LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter worth about $231,000. Finally, Black Diamond Financial LLC acquired a new stake in shares of Corcept Therapeutics in the third quarter worth about $231,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insiders Place Their Bets

In related news, insider Joseph Douglas Lyon sold 1,411 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.72, for a total value of $80,031.92. Following the sale, the insider now owns 8,494 shares of the company’s stock, valued at $481,779.68. The trade was a 14.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Guyer sold 6,606 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $48.97, for a total value of $323,495.82. Following the transaction, the insider now owns 5,796 shares of the company’s stock, valued at $283,830.12. This represents a 53.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,811 shares of company stock worth $1,840,080 over the last 90 days. Corporate insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $51.69 on Friday. 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 cap of $5.42 billion, a P/E ratio of 41.02 and a beta of 0.56. The company has a fifty day moving average price of $54.79 and a 200 day moving average price of $43.83. Corcept Therapeutics Incorporated has a one year low of $20.84 and a one year high of $62.22.

Corcept Therapeutics (NASDAQ:CORT) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The firm had revenue of $182.55 million during the quarter, compared to analysts’ expectations of $171.97 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 47.7% on a year-over-year basis. Analysts anticipate that Corcept Therapeutics Incorporated will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $38.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. Truist Financial raised their target price on shares of Corcept Therapeutics from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 30th. 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $65.25.

About Corcept Therapeutics

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.