Corcept Therapeutics Inc. (CORT) CEO Sells $4,155,000.00 in Stock
Corcept Therapeutics Inc. (NASDAQ:CORT) CEO Joseph K. Belanoff sold 500,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $8.31, for a total value of $4,155,000.00. Following the sale, the chief executive officer now owns 2,257,728 shares of the company’s stock, valued at $18,761,719.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Corcept Therapeutics Inc. (NASDAQ:CORT) opened at 9.72 on Monday. Corcept Therapeutics Inc. has a 12 month low of $3.22 and a 12 month high of $9.83. The stock’s 50 day moving average is $7.03 and its 200 day moving average is $5.93. The company has a market cap of $1.08 billion, a PE ratio of 249.23 and a beta of 1.64.
Large investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in shares of Corcept Therapeutics during the second quarter worth about $100,000. Acrospire Investment Management LLC raised its stake in Corcept Therapeutics by 61.9% in the second quarter. Acrospire Investment Management LLC now owns 23,475 shares of the company’s stock valued at $128,000 after buying an additional 8,974 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Corcept Therapeutics by 35.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 21,446 shares of the company’s stock valued at $139,000 after buying an additional 5,652 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Corcept Therapeutics during the third quarter valued at about $141,000. Finally, BlackRock Group LTD raised its stake in Corcept Therapeutics by 5.1% in the third quarter. BlackRock Group LTD now owns 22,573 shares of the company’s stock valued at $147,000 after buying an additional 1,089 shares during the last quarter. 41.31% of the stock is owned by institutional investors.
CORT has been the topic of several research analyst reports. Zacks Investment Research raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Friday, October 28th. Piper Jaffray Cos. set a $12.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, October 19th. Finally, FBR & Co set a $12.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, November 2nd.
Corcept Therapeutics Company Profile
Corcept Therapeutics Inc is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.
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