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Insider Selling: Robb Gary Charles, Corcept Therapeutics Inc [CORT] Chief Business Officer divested 11,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Corcept Therapeutics Inc shares valued at $357,390 were sold by Robb Gary Charles on Jul 01 ’24. At $32.49 per share, Robb Gary Charles sold 11,000 shares. The insider’s holdings dropped to 26,291 shares worth approximately $0.82 million following the completion of this transaction.

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Also, Guyer William sold 10,000 shares, netting a total of over 324,900 in proceeds. Following the sale of shares at $32.49 each, the insider now holds 6,039 shares.

Before that, Lyon Joseph Douglas had sold 5,000 shares from its account. In a trade valued at $162,452, the insider traded Corcept Therapeutics Inc shares for $32.49 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $0.29 million.

As published in a research note from Truist on November 06, 2023, Corcept Therapeutics Inc [CORT] has been rated up from a Hold to a Buy and the price target has been revised to $38 from $29. Analysts at SVB Securities started covering the stock with ‘”a Market perform”‘ outlook in a report released in mid April. As of April 04, 2023, Piper Sandler has initiated its “an Overweight” rating for CORT. Earlier on February 15, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” for CORT stock which previously was a “a Buy”.

Analyzing CORT Stock Performance

During the last five days, there has been a drop of approximately -1.87%. Over the course of the year, Corcept Therapeutics Inc shares have dropped approximately -4.53%. Shares of the company reached a 52-week high of $35.22 on 06/06/24 and a 52-week low of $20.84 on 04/22/24. A 50-day SMA is recorded $28.70, while a 200-day SMA reached $26.55. Nevertheless, trading volume fell to 0.56 million shares from 0.98 million shares the previous day.

Support And Resistance Levels for Corcept Therapeutics Inc (CORT)

According to the 24-hour chart, there is a support level at 29.91, which, if violated, would cause prices to drop to 29.31. In the upper region, resistance lies at 31.34. The next price resistance is at 32.17. RSI (Relative Strength Index) is 52.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.97, which suggests the price will decrease in the coming days. Percent R is at 56.46%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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