Should You Add Corcept Therapeutics Incorporated (CORT) To Your Portfolio?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cashed in their entire stakes in the stock during the third quarter. It’s worth mentioning that First Eagle Investment Management cashed in the largest position of all the hedgies followed by Insider Monkey, comprising close to $1.2 million in stock, and Richard Driehaus’ Driehaus Capital was right behind this move, as the fund sold off about $0.6 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Corcept Therapeutics Incorporated (NASDAQ:CORT) but similarly valued. We will take a look at Quidel Corporation (NASDAQ:QDEL), INTL Fcstone Inc (NASDAQ:INTL), Oritani Financial Corp. (NASDAQ:ORIT), and Instructure Inc (NYSE:INST). This group of stocks’ market caps are closest to CORT’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $9 million in CORT’s case. Oritani Financial Corp. (NASDAQ:ORIT) is the most popular stock in this table. On the other hand Quidel Corporation (NASDAQ:QDEL) is the least popular one with only 7 bullish hedge fund positions. Corcept Therapeutics Incorporated (NASDAQ:CORT) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ORIT might be a better candidate to consider taking a long position in.

Disclosure: None