Short Interest Don’t Lie: Could Corcept Therapeutics Incorporated (NASDAQ:CORT) Go Down After Its Newest Short Interest Report?

November 30, 2016 - By Pete Kolinski   ·   0 Comments

Short Interest Don't Lie: Could Corcept Therapeutics Incorporated (NASDAQ:CORT) Go Down After Its Newest Short Interest Report?

The stock of Corcept Therapeutics Incorporated (NASDAQ:CORT) registered a decrease of 14.31% in short interest. CORT’s total short interest was 5.08M shares in November as published by FINRA. Its down 14.31% from 5.93M shares, reported previously. With 382,000 shares average volume, it will take short sellers 13 days to cover their CORT’s short positions. The short interest to Corcept Therapeutics Incorporated’s float is 6.32%. The stock decreased 7.26% or $0.66 during the last trading session, hitting $8.43. Corcept Therapeutics Incorporated (NASDAQ:CORT) has risen 68.60% since April 27, 2016 and is uptrending. It has outperformed by 63.37% the S&P500.

Corcept Therapeutics Inc. is a pharmaceutical firm engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The company has a market cap of $926.82 million. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. It has a 214.61 P/E ratio. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders.

Insitutional Activity: The institutional sentiment increased to 2.23 in 2016 Q2. Its up 0.43, from 1.8 in 2016Q1. The ratio increased, as 13 funds sold all Corcept Therapeutics Incorporated shares owned while 22 reduced positions. 24 funds bought stakes while 39 increased positions. They now own 45.31 million shares or 34.44% more from 33.70 million shares in 2016Q1.
Wealth Architects Limited Liability Company has 10,000 shares for 0.03% of their US portfolio. Citigroup last reported 0% of its portfolio in the stock. Moreover, Vanguard Gru Incorporated has 0% invested in Corcept Therapeutics Incorporated (NASDAQ:CORT) for 2.98 million shares. Falcon Point Capital Ltd Limited Liability Company last reported 0.09% of its portfolio in the stock. Stevens Mngmt Ltd Partnership, a Pennsylvania-based fund reported 17,323 shares. Blackrock Institutional Trust Na has invested 0% of its portfolio in Corcept Therapeutics Incorporated (NASDAQ:CORT). The Delaware-based Blackrock Advisors Ltd Liability Corporation has invested 0% in Corcept Therapeutics Incorporated (NASDAQ:CORT). The Massachusetts-based Acadian Asset Mngmt Ltd has invested 0% in Corcept Therapeutics Incorporated (NASDAQ:CORT). The Guernsey-based Bluecrest Capital Mngmt Limited has invested 0% in Corcept Therapeutics Incorporated (NASDAQ:CORT). Deere, a Illinois-based fund reported 69,255 shares. Deutsche National Bank & Trust Ag holds 0% or 11,417 shares in its portfolio. Menta Capital Ltd Liability Corporation reported 310,029 shares or 0.23% of all its holdings. Thornburg Management has 199,762 shares for 0.01% of their US portfolio. Morgan Stanley has 0% invested in the company for 2.07M shares. Kcg Inc last reported 0% of its portfolio in the stock.

Insider Transactions: Since November 7, 2016, the stock had 0 insider purchases, and 10 selling transactions for $24.70 million net activity. BELANOFF JOSEPH K had sold 500,000 shares worth $4.49M. 174,847 shares were sold by Longitude Venture Partners L.P., worth $1.67M on Tuesday, November 15. ENRIGHT PATRICK G had sold 36,941 shares worth $345,165. Shares for $280,500 were sold by MAHONEY DAVID L on Friday, November 11. WILSON JAMES N sold $1.35M worth of stock.

CORT Company Profile

Corcept Therapeutics Inc., incorporated on May 13, 1998, is a pharmaceutical firm 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. The Firm is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR). The Firm also has discovered approximately three structurally distinct series of selective cortisol modulators, all of which share mifepristone’s affinity for GR but, unlike mifepristone, do not bind to the progesterone receptor, and so do not terminate pregnancy or cause other side effects associated with progesterone receptor antagonism. The Firm has begun pre-clinical and clinical development of its lead compounds from these series.

More news for Corcept Therapeutics Incorporated (NASDAQ:CORT) were recently published by: Fool.com, which released: “Corcept Therapeutics Rose 18% in March. Here’s Why.” on April 06, 2016. Fool.com‘s article titled: “Why Corcept Therapeutics Incorporated Shares Were Mauled” and published on May 07, 2014 is yet another important article.

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By Pete Kolinski


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