Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Corcept Therapeutics Incorporated shares valued at $684,250 were sold by Maduck Sean on Jul 18. At $27.37 per share, Maduck Sean sold 25,000 shares. The insider’s holdings dropped to 40,024 shares worth approximately $1.13 million following the completion of this transaction.
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Also, BELANOFF JOSEPH K sold 55,111 shares, netting a total of over 1,446,945 in proceeds. Following the sale of shares at $26.26 each, the insider now holds 2,483,107 shares.
Before that, BELANOFF JOSEPH K had sold 279,908 shares from its account. In a trade valued at $7,352,008, the Chief Executive Officer traded Corcept Therapeutics Incorporated shares for $26.27 each. Upon closing the transaction, the insider’s holdings decreased to 279,908 shares, worth approximately $71.91 million.
As published in a research note from Truist on August 01, 2022, Corcept Therapeutics Incorporated [CORT] has been rated down from a Buy to a Hold and the price target has been revised to $30. This represents a 5.57% premium over Thursday’s closing price. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. Earlier on February 02, 2022, Canaccord Genuity initiated its rating. Their recommendation was “a Buy” for CORT stock.
Analyzing CORT’s Price Performance
On Thursday, Corcept Therapeutics Incorporated [NASDAQ: CORT] plunged -1.32% to $28.33. The stock’s lowest price that day was $26.51, but it reached a high of $29.70 in the same session. During the last five days, there has been a drop of approximately -2.71%. Over the course of the year, Corcept Therapeutics Incorporated shares have jumped approximately 43.08%. Shares of the company reached a 52-week high of $29.93 on 07/27/22 and a 52-week low of $16.47 on 01/27/22. A 50-day SMA is recorded $24.42, while a 200-day SMA reached $21.90. Nevertheless, trading volume fell to 1.15 million shares from 0.47 million shares the previous day.
Support And Resistance Levels for Corcept Therapeutics Incorporated (CORT)
According to the 24-hour chart, there is a support level at 26.66, which, if violated, would cause prices to drop to 24.99. In the upper region, resistance lies at 29.85. The next price resistance is at 31.37. RSI (Relative Strength Index) is 59.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.51, which suggests the price will decrease in the coming days. Percent R is at 42.22%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Corcept Therapeutics Incorporated subject to short interest?
Stocks of Corcept Therapeutics Incorporated saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.44 million shares to 17.73 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 18.17 million shares. A decline of -2.48% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 22.08 of the overall float, the days-to-cover ratio (short ratio) decline to 22.08.
Which companies own the most shares of Corcept Therapeutics Incorporated (CORT)?
In terms of Corcept Therapeutics Incorporated share price expectations, FactSet research, analysts set an average price target of $31.50 in the next 12 months, up nearly 11.46% from the previous closing price of $28.71. Analysts anticipate Corcept Therapeutics Incorporated stock to reach $45.00 by 2022, with the lowest price target being $16.00. In spite of this, 6 analysts ranked Corcept Therapeutics Incorporated stock as an Overweight at the end of 2022. On January 28, 2022, Truist assigned a price target of “a Buy” to the stock and initiated coverage with a $30.