Joseph K. Belanoff Sells 500,000 Shares of Corcept Therapeutics Inc. (CORT) Stock
Corcept Therapeutics Inc. (NASDAQ:CORT) insider Joseph K. Belanoff sold 500,000 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $8.98, for a total value of $4,490,000.00. Following the completion of the transaction, the insider now owns 2,464,195 shares of the company’s stock, valued at $22,128,471.10. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Corcept Therapeutics Inc. (NASDAQ:CORT) opened at 9.51 on Wednesday. The company’s 50-day moving average price is $7.20 and its 200 day moving average price is $6.01. Corcept Therapeutics Inc. has a one year low of $3.22 and a one year high of $10.00. The stock has a market capitalization of $1.06 billion, a PE ratio of 243.85 and a beta of 1.64.
A number of research firms have recently issued reports on CORT. Zacks Investment Research cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Piper Jaffray Cos. set a $12.00 price objective on Corcept Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 19th. Finally, FBR & Co reiterated a “buy” rating on shares of Corcept Therapeutics in a report on Thursday, August 4th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Corcept Therapeutics during the second quarter valued at approximately $100,000. Gotham Asset Management LLC boosted its stake in Corcept Therapeutics by 39.2% in the third quarter. Gotham Asset Management LLC now owns 20,908 shares of the company’s stock valued at $136,000 after buying an additional 5,884 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted 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 in the last quarter. Prudential Financial Inc. bought a new stake in Corcept Therapeutics during the third quarter valued at approximately $141,000. Finally, BlackRock Group LTD boosted 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 in the last quarter. Institutional investors own 41.31% of the company’s stock.
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.
Receive News & Stock Ratings for Corcept Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corcept Therapeutics Inc. and related stocks with our FREE daily email newsletter.