Allspring Global Investments Holdings LLC Sells 39,602 Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT)

Allspring Global Investments Holdings LLC trimmed its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 15.8% in the 4th quarter, Holdings Channel reports. The firm owned 211,466 shares of the biotechnology company’s stock after selling 39,602 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Corcept Therapeutics were worth $10,599,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. M&G PLC bought a new position in Corcept Therapeutics in the 3rd quarter valued at $11,173,000. Synergy Asset Management LLC boosted its holdings in Corcept Therapeutics by 131.3% in the 4th quarter. Synergy Asset Management LLC now owns 462,411 shares of the biotechnology company’s stock valued at $22,369,000 after purchasing an additional 262,503 shares during the period. Empowered Funds LLC bought a new position in Corcept Therapeutics in the 3rd quarter valued at $1,784,000. Victory Capital Management Inc. raised its position in shares of Corcept Therapeutics by 49.2% during the 3rd quarter. Victory Capital Management Inc. now owns 41,823 shares of the biotechnology company’s stock valued at $1,936,000 after buying an additional 13,787 shares in the last quarter. Finally, State Street Corp raised its position 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 buying an additional 19,893 shares in the last quarter. 93.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Corcept Therapeutics in a research report on Friday, February 7th. Canaccord Genuity Group raised their price objective on shares of Corcept Therapeutics from $78.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com cut 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, According to MarketBeat.com, Corcept Therapeutics presently has an average rating of “Buy” and an average price target of $88.25.

Corcept Therapeutics Price Performance

CORT stock opened at $72.60 on Wednesday. The firm’s 50-day moving average price is $58.24 and its two-hundred day moving average price is $49.72. Corcept Therapeutics Incorporated has a 12-month low of $20.84 and a 12-month high of $74.61. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 57.62 and a beta of 0.58. The company has a current ratio of 3.70, a quick ratio of 3.64 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 1,411 shares of Corcept Therapeutics stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.72, for a total transaction of $80,031.92. Following the sale, the insider now owns 8,494 shares of the company’s stock, valued at approximately $481,779.68. The trade was a 14.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Maduck sold 20,000 shares of Corcept Therapeutics stock in a transaction dated 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 sale, the insider now directly owns 85,318 shares in the company, valued at $4,299,174.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,011 shares of company stock worth $1,479,608. 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.