Kestra Investment Management LLC Takes Position in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Kestra Investment Management LLC purchased a new stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 532 shares of the biotechnology company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Corcept Therapeutics during the 3rd quarter valued at $25,000. USA Financial Formulas purchased a new position in shares of Corcept Therapeutics during the fourth quarter valued at $54,000. Newbridge Financial Services Group Inc. acquired a new position in Corcept Therapeutics during the fourth quarter valued at $58,000. Principal Securities Inc. lifted its stake in Corcept Therapeutics by 63.6% in the 4th quarter. Principal Securities Inc. now owns 1,243 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 483 shares in the last quarter. Finally, KBC Group NV lifted its stake in Corcept Therapeutics by 21.3% in the 3rd quarter. KBC Group NV now owns 2,822 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 496 shares in the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Sean Maduck sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $50.39, for a total transaction of $1,007,800.00. Following the transaction, the insider now owns 85,318 shares of the company’s stock, valued at approximately $4,299,174.02. This represents a 18.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.08, for a total value of $149,776.00. The disclosure for this sale can be found here. Insiders sold 26,600 shares of company stock worth $1,399,576 over the last ninety days. 20.50% of the stock is currently owned by insiders.

Corcept Therapeutics Trading Down 2.4 %

Shares of NASDAQ CORT opened at $63.54 on Friday. The business has a 50 day simple moving average of $59.13 and a 200 day simple moving average of $50.57. Corcept Therapeutics Incorporated has a 52 week low of $20.84 and a 52 week high of $75.00. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 50.43 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.64 and a current ratio of 3.70.

Analyst Upgrades and Downgrades

CORT has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Corcept Therapeutics in a research note on Friday, February 7th. StockNews.com downgraded shares of Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Canaccord Genuity Group increased their target price 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $88.25.

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.