Axa S.A. Decreases Stake in Corcept Therapeutics Incorporated (NASDAQ:CORT)

Posted by on Mar 1st, 2023

Axa S.A. cut its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT – Get Rating) by 60.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,700 shares of the biotechnology company’s stock after selling 38,875 shares during the period. Axa S.A.’s holdings in Corcept Therapeutics were worth $659,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in shares of Corcept Therapeutics by 16.8% during the second quarter. Federated Hermes Inc. now owns 5,537,000 shares of the biotechnology company’s stock valued at $131,670,000 after purchasing an additional 796,580 shares in the last quarter. BlackRock Inc. increased its position in Corcept Therapeutics by 2.5% in the first quarter. BlackRock Inc. now owns 15,424,767 shares of the biotechnology company’s stock worth $347,366,000 after buying an additional 376,774 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Corcept Therapeutics in the second quarter worth about $6,047,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Corcept Therapeutics by 402.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 266,300 shares of the biotechnology company’s stock worth $6,333,000 after acquiring an additional 213,300 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Corcept Therapeutics by 555.6% in the second quarter. Voya Investment Management LLC now owns 237,861 shares of the biotechnology company’s stock worth $5,656,000 after acquiring an additional 201,582 shares during the period. 80.08% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Stock Down 0.5 %

CORT opened at $20.83 on Wednesday. The stock’s fifty day moving average is $22.09 and its two-hundred day moving average is $24.57. The company has a market capitalization of $2.24 billion, a P/E ratio of 20.83 and a beta of 0.55. Corcept Therapeutics Incorporated has a 52 week low of $17.19 and a 52 week high of $30.14.

Analyst Ratings Changes

A number of equities analysts recently commented on CORT shares. HC Wainwright dropped their price target on Corcept Therapeutics from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, December 9th. Jefferies Financial Group downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $35.00 to $22.00 in a report on Wednesday, February 15th. Finally, StockNews.com downgraded Corcept Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, January 30th.

Corcept Therapeutics Profile

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Corcept Therapeutics, Inc is a commercial-stage pharmaceutical company, which engages in the discovery, development and commercialization of medications to treat severe metabolic, oncologic and psychiatric disorders. It focuses on the development of drugs for disorders that are associated with a steroid hormone called cortisol.

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Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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