KBC Group NV Increases Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

KBC Group NV increased its position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 45.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,118 shares of the biotechnology company’s stock after purchasing an additional 1,296 shares during the quarter. KBC Group NV’s holdings in Corcept Therapeutics were worth $208,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CORT. Hancock Whitney Corp boosted its position in shares of Corcept Therapeutics by 1.2% during the third quarter. Hancock Whitney Corp now owns 22,954 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 270 shares during the period. GAMMA Investing LLC boosted its holdings in Corcept Therapeutics by 20.3% during the 4th quarter. GAMMA Investing LLC now owns 2,996 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 506 shares during the period. Capital Performance Advisors LLP bought a new position in Corcept Therapeutics in the 3rd quarter valued at $25,000. Bank of Montreal Can increased its stake in Corcept Therapeutics by 5.0% in the second quarter. Bank of Montreal Can now owns 12,156 shares of the biotechnology company’s stock worth $395,000 after purchasing an additional 580 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Corcept Therapeutics during the third quarter worth $36,000. 93.61% of the stock is currently owned by institutional investors.

Corcept Therapeutics Price Performance

NASDAQ CORT opened at $66.91 on Wednesday. The company has a market cap of $7.01 billion, a PE ratio of 53.10 and a beta of 0.58. The firm’s 50 day moving average price is $56.34 and its 200-day moving average price is $47.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70. Corcept Therapeutics Incorporated has a 52-week low of $20.84 and a 52-week high of $71.29.

Insiders Place Their Bets

In other news, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $50.39, for a total value of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares of the company’s stock, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the business’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. Insiders sold a total of 28,011 shares of company stock worth $1,461,568 over the last 90 days. Company insiders own 20.50% of the company’s stock.

Wall Street Analyst Weigh In

CORT has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Corcept Therapeutics in a research note on Thursday, October 31st. StockNews.com lowered shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Canaccord Genuity Group boosted 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, Sandler O’Neill restated a “buy” rating on shares of Corcept Therapeutics in a report on Friday, October 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $88.25.

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.