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Potential Corcept Therapeutics Incorporated (NASDAQ:CORT) shareholders may wish to note that the Independent Director, George Baker, recently bought US$243k worth of stock, paying US$17.98 for each share. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either.
Corcept Therapeutics Insider Transactions Over The Last Year
Notably, that recent purchase by Independent Director George Baker was not the only time they bought Corcept Therapeutics shares this year. They previously made an even bigger purchase of US$578k worth of shares at a price of US$12.50 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of US$18.32. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.
George Baker bought 59.75k shares over the last 12 months at an average price of US$13.73. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Corcept Therapeutics is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Corcept Therapeutics insiders own about US$208m worth of shares (which is 9.8% of the company). I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Does This Data Suggest About Corcept Therapeutics Insiders?
The recent insider purchase is heartening. We also take confidence from the longer term picture of insider transactions. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Corcept Therapeutics. Looks promising! So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. For example - Corcept Therapeutics has 1 warning sign we think you should be aware of.
But note: Corcept Therapeutics may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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