Vanguard Group Inc. Has $792.63 Million Holdings in Corcept Therapeutics Incorporated $CORT

Vanguard Group Inc. lessened its holdings in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,537,071 shares of the biotechnology company’s stock after selling 143,521 shares during the quarter. Vanguard Group Inc. owned 9.05% of Corcept Therapeutics worth $792,626,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in Corcept Therapeutics during the 2nd quarter worth about $28,000. Huntington National Bank raised its holdings in Corcept Therapeutics by 54.0% during the second quarter. Huntington National Bank now owns 479 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 168 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Corcept Therapeutics by 598.5% during the third quarter. Hantz Financial Services Inc. now owns 461 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 395 shares during the last quarter. Employees Retirement System of Texas bought a new position in Corcept Therapeutics in the second quarter valued at approximately $52,000. Finally, Bessemer Group Inc. increased its position in shares of Corcept Therapeutics by 119.2% during the 3rd quarter. Bessemer Group Inc. now owns 629 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

More Corcept Therapeutics News

Here are the key news stories impacting Corcept Therapeutics this week:

• Positive Sentiment: HC Wainwright kept a “buy” rating on CORT despite cutting its price target from $105 to $67, signaling some analyst conviction in upside even after the patent loss. The Fly
• Positive Sentiment: Commentary arguing that the recent negative patent news may be largely priced in and that Corcept’s potential upside from ovarian cancer and other pipeline opportunities remains under-appreciated — a bullish narrative some investors are using to buy the dip. Seeking Alpha
• Neutral Sentiment: Reported short interest data in recent filings show effectively zero reported short interest (odd reporting artifact). Low measured short interest reduces immediate short‑squeeze risk but data may be unreliable. (No external link provided.)
• Negative Sentiment: The U.S. Court of Appeals (Federal Circuit) found Teva’s proposed generic does not infringe two Corcept patents covering Korlym, a ruling Corcept disclosed on Feb. 19 — the primary catalyst for the sharp selloff and heightened volatility. Business Wire
• Negative Sentiment: Immediate market reaction included steep intraday declines reported across outlets and several Limit Up/Limit Down (LULD) trading halts as the news hit, signaling heavy selling pressure and elevated short‑term risk. Benzinga

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CORT shares. HC Wainwright dropped their price objective on Corcept Therapeutics from $105.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday. Canaccord Genuity Group increased their price target on shares of Corcept Therapeutics from $99.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Wolfe Research downgraded shares of Corcept Therapeutics from a “peer perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research report on Wednesday, December 31st. UBS Group assumed coverage on shares of Corcept Therapeutics in a report on Tuesday, December 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Finally, Zacks Research cut Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Corcept Therapeutics presently has an average rating of “Hold” and an average price target of $77.17.

Insider Activity

In other news, CEO Joseph K. Belanoff sold 40,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $79.77, for a total transaction of $3,190,800.00. Following the completion of the transaction, the chief executive officer owned 2,701,370 shares of the company’s stock, valued at approximately $215,488,284.90. The trade was a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Douglas Lyon sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $79.53, for a total value of $397,650.00. Following the completion of the sale, the insider directly owned 10,277 shares in the company, valued at $817,329.81. This trade represents a 32.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 129,500 shares of company stock valued at $8,665,500 in the last three months. Company insiders own 20.50% of the company’s stock.

Corcept Therapeutics Price Performance

Shares of NASDAQ:CORT opened at $34.82 on Monday. The firm has a 50 day moving average of $49.14 and a 200-day moving average of $66.95. Corcept Therapeutics Incorporated has a 12 month low of $28.66 and a 12 month high of $117.33. The company has a current ratio of 3.14, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.66 billion, a PE ratio of 39.57 and a beta of 0.25.

Corcept Therapeutics Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.