Corcept Therapeutics Incorporated June 15th Short Interest Update

Corcept Therapeutics Incorporated (NASDAQ:CORT) reported a rise of 22.3% or 978,929 shares in its short interest. The short figure came in at 7.3% of the total floats. The average daily volume of 581,544 shares suggests that the days to cover 5,363,589 short positions, as on June 15,2016, will be 9. On May 31,2016, the short interest was 4,384,660 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Corcept Therapeutics Incorporated (NASDAQ:CORT): The stock opened at $5.18 on Friday but the bulls could not build on the opening and the stock topped out at $5.29 for the day. The stock traded down to $4.95 during the day, due to lack of any buying support eventually closed down at $5.22 with a loss of -4.57% for the day. The stock had closed at $5.47 on the previous day. The total traded volume was 1,958,388 shares.

The company shares have dropped -10.31% from its 1 Year high price. On Jun 2, 2016, the shares registered one year high at $6.33 and the one year low was seen on Jan 28, 2016. The 50-Day Moving Average price is $5.38 and the 200 Day Moving Average price is recorded at $4.58.

Corcept Therapeutics Incorporated (NASDAQ:CORT) has tumbled 1.14% during the past week and has dropped 3.33% in the last 4 week period. The company has outperformed the S&P 500 by 0.5% in the past week but underperformed the index by 0.41% in the last 4 weeks.

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Companys 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. It is developing mifepristone, a potent glucocorticoid receptor (GR) antagonist that modulates the activity of cortisol for the treatment of a number of severe metabolic, psychiatric and oncologic disorders. The Company also discovered three series of selective GR antagonists. As of December 31, 2014, it had commenced enrollment in a Phase I clinical study with CORT125134. The Company has completed Phase I trials of CORT108297 for the treatment of central nervous system disorders. The Companys product Korlym contains 300 milligram mifepristone for the treatment of hyperglycemia.

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