10,876 Shares in Corcept Therapeutics Incorporated (NASDAQ:CORT) Acquired by World Investment Advisors LLC

World Investment Advisors LLC purchased a new position in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 10,876 shares of the biotechnology company’s stock, valued at approximately $503,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $25,000. Kathleen S. Wright Associates Inc. acquired a new position in Corcept Therapeutics during the 3rd quarter worth approximately $36,000. Blue Trust Inc. raised its stake in Corcept Therapeutics by 125.4% during the 2nd quarter. Blue Trust Inc. now owns 3,526 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,962 shares during the period. GAMMA Investing LLC raised its stake in shares of Corcept Therapeutics by 85.4% in the third quarter. GAMMA Investing LLC now owns 2,490 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,147 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in shares of Corcept Therapeutics by 62.5% in the second quarter. nVerses Capital LLC now owns 3,900 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 1,500 shares during the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Corcept Therapeutics news, insider Gary Charles Robb sold 11,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.28, for a total transaction of $509,080.00. Following the completion of the transaction, the insider now directly owns 22,772 shares of the company’s stock, valued at approximately $1,053,888.16. This represents a 32.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel N. Swisher, Jr. sold 2,200 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $59.88, for a total value of $131,736.00. The disclosure for this sale can be found here. Insiders sold a total of 26,811 shares of company stock valued at $1,341,360 over the last three months. Corporate insiders own 20.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CORT. Piper Sandler increased their price objective on Corcept Therapeutics from $38.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, October 31st. StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 25th. Truist Financial increased their price objective on Corcept Therapeutics from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Corcept Therapeutics in a research note on Friday, October 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Corcept Therapeutics currently has an average rating of “Buy” and an average price target of $65.25.

Corcept Therapeutics Stock Performance

CORT stock opened at $55.14 on Wednesday. The firm has a market cap of $5.78 billion, a PE ratio of 43.76 and a beta of 0.51. The company has a quick ratio of 3.64, a current ratio of 3.70 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $53.28 and a 200-day moving average of $41.46. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $62.22.

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

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.