Thursday, 18 April 2024

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Corcept Therapeutics director sells shares worth over $55k By

Benchmark Starts FingerMotion at Buy, Sees 73% Upside

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Corcept Therapeutics Inc. (NASDAQ:) Director Daniel N. Swisher Jr. has sold company stock valued at approximately $55,660, according to a recent SEC filing. The transaction, which took place on April 1st, involved the sale of 2,200 shares at an average price of $25.30 per share.

Swisher’s sale was executed under a pre-arranged 10b5-1 trading plan, a tool that allows insiders to set up a predetermined schedule for buying or selling stock to avoid accusations of trading on non-public information. The plan was in effect at the time of the transaction.

On the same day, Swisher also exercised options to acquire 2,200 shares of Corcept Therapeutics’ common stock, which he immediately sold. The options were exercised at a price of $5.86 per share, totaling $12,892 for the transaction.

The recent sale has reduced Swisher’s direct ownership in the company to zero shares, as indicated by the post-transaction amounts listed in the filing. However, the derivative securities section of the document shows that Swisher still has an interest in 6,750 shares following the exercise of his stock options, which are fully exercisable and set to expire on July 21, 2026.

Corcept Therapeutics, a pharmaceutical company incorporated in Delaware, specializes in the development of drugs for severe metabolic, oncologic, and psychiatric disorders. The company’s business address is in Menlo Park, California, where Swisher also maintains his professional address.

Investors often monitor insider transactions as they can provide insights into the company’s performance and executives’ confidence in the business’s future. While Swisher’s recent sale may catch the eye of shareholders, it is important to note that such transactions are not uncommon and may be part of personal financial planning strategies.

InvestingPro Insights

As Corcept Therapeutics Inc. (NASDAQ:CORT) sees insider activity with Director Daniel N. Swisher Jr.’s recent stock transactions, investors may be interested in additional insights that could inform their perspective on the company’s financial health and future prospects. According to InvestingPro, Corcept has been demonstrating some intriguing financial metrics and strategic moves that warrant attention.

InvestingPro data reveals that Corcept Therapeutics currently holds a market capitalization of approximately $2.63 billion USD, with a P/E ratio of 24.91, reflecting investor sentiment on the company’s earnings capacity. The company’s revenue growth has been…

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