An Analysis of Corcept Therapeutics Incorporated (CORT)’s Potential Price Growth


Corcept Therapeutics Incorporated’s recently made public that its insider Maduck Sean unloaded Company’s shares for reported $15800.0 on Dec 01. In the deal valued at $25.28 per share,625 shares were sold. As a result of this transaction, Maduck Sean now holds 56,462 shares worth roughly $ 1.2 million.

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Then, Robb Gary Charles sold 186 shares, generating $4,842 in total proceeds. Upon selling the shares at $26.03, the Chief Business Officer now owns 21,143 shares.

Before that, Robb Gary Charles sold 4,814 shares. Corcept Therapeutics Incorporated shares valued at $125,308 were divested by the Chief Business Officer at a price of $26.03 per share. As a result of the transaction, Robb Gary Charles now holds 21,329 shares, worth roughly $0.45 million.

Jefferies downgraded its Corcept Therapeutics Incorporated [CORT] rating to a Hold from a a Buy in a research note published on Friday, February 15, 2023; the price target was decreased to $22 from $35. PT values the company’s stock at a premium of 3.14 to its Friday closing price. A number of analysts have revised their coverage, including Truist’s analysts, who decreased its forecast for the stock in early August from “a Buy” to “a Hold”. Jefferies also remained covering CORT and has increased its forecast on July 27, 2022 with a “Buy” recommendation from previously “Hold” rating.

Price Performance Review of CORT

On Friday, Corcept Therapeutics Incorporated [NASDAQ:CORT] saw its stock fall -2.96% to $21.31. On the same session, the stock had its day’s lowest price of $21.06, but rose to a high of $21.86. Over the last five days, the stock has lost -4.61%. Corcept Therapeutics Incorporated shares have risen nearly 4.92% since the year began. Nevertheless, the stocks have fallen -5.16% over the past one year. While a 52-week high of $30.14 was reached on 02/03/23, a 52-week low of $17.19 was recorded on 01/05/23. SMA at 50 days reached $22.00, while 200 days put it at $24.42. A total of 0.77 million shares were traded, compared to the trading of 0.53 million shares in the previous session.

Levels Of Support And Resistance For CORT Stock

The 24-hour chart illustrates a support level at 20.96, which if violated will result in even more drops to 20.61. On the upside, there is a resistance level at 21.76. A further resistance level may holdings at 22.21. The Relative Strength Index (RSI) on the 14-day chart is 36.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.06%. Stochastics %K at 18.75% indicates the stock is a buying.

How much short interest is there in Corcept Therapeutics Incorporated?

A steep rise in short interest was recorded in Corcept Therapeutics Incorporated stocks on Jan 30, 2023, growing by 0.48 million shares to a total of 14.48 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 14.0 million shares. There was a rise of 3.31%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 20.72% of the overall stock float, the days-to-cover ratio (short ratio) rose to 24.93.

Corcept Therapeutics Incorporated [CORT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 14,523,156 shares, or roughly 13.49% of the outstanding CORT shares. In other words, the investor’s shares have risen by 446,560 from its previous 13-F filing of 14076596.0. Additionally, The Vanguard Group, Inc. increased 0.08% of its stake after which the total value it holdings stand at $230,999,088, while Renaissance Technologies LLC added 1.27% of its stake to hold $166.62 million in the firm. Over the last quarter, Ingalls & Snyder LLC sold -125,815 shares of Corcept Therapeutics Incorporated, while Parallel Advisors LLC sold -44,791 shares. At present, Federated Global Investment Manag is holding 3,271,875 shares valued at $74.8 million. SSgA Funds Management, Inc. owned 3,198,694 shares of the company at the time of its most recent 13F filing, worth $73.12 million.

However, 5 analysts have rated CORT stock as an Overweight in their predictions for 2023. The most recent change occurred on February 02, 2022 when Canaccord Genuity began covering the stock and recommended ‘”a Buy”‘ rating along with a $30 price target.


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