William Guyer, Corcept Therapeutics Inc's Chief Development Officer, completed an insider sale and an associated option exercise on March 20, 2026. Guyer sold 11,767 shares of common stock for a total of $423,729, at a weighted average sale price of $36.01 per share. Individual sale prices on the transaction ranged from $35.97 to $36.24.
On the same date, Guyer exercised options to acquire 11,767 shares of Corcept common stock at an exercise price of $21.65 per share, representing a total cost of $254,755. Following those transactions, Guyer directly holds 2,231 shares of Corcept stock. That total includes 224 shares and an additional 498 shares underlying unvested restricted stock awards that were granted on December 1, 2025 and March 2, 2026, respectively.
The insider sale was carried out under a pre-arranged 10b5-1 trading plan adopted on November 27, 2024. Such plans provide a formulaic mechanism for executing trades and are commonly used by insiders to reduce the risk of allegations that transactions were timed on the basis of material nonpublic information.
Guyer’s trades come as Corcept’s shares have fallen sharply in recent months. The stock is trading at $33.82, down roughly 60% over the past six months, and is well below its 52-week high of $117.33. According to InvestingPro analysis cited alongside the transaction details, the stock appears undervalued at current levels, with the platform’s Fair Value metric indicating potential upside. The platform also notes that Corcept is covered in a Pro Research Report among more than 1,400 US equity reports available on the InvestingPro service, which includes additional ProTips and advanced metrics for subscribers.
Recent operating results provide context for the share-price weakness. Corcept reported fourth-quarter 2025 revenue of $202.1 million, below the consensus estimate of $254.9 million. Adjusted earnings per share for the quarter were $0.20, short of the $0.25 analysts expected. For the full year 2025, the company recorded revenue of $761.4 million, missing the revised guidance range the company had provided of $800 million to $850 million.
Market analysts reacted to the quarterly results: H.C. Wainwright lowered its price target for Corcept from $67 to $60 but maintained a Buy rating on the shares.
Separately, Corcept faces a securities class action lawsuit related to an FDA rejection. The filing window for investor lead plaintiff applications in that matter runs through April 21, 2026, according to the details disclosed with the trading activity.
In contrast to Guyer’s sale and option exercise, company director G. Leonard Baker Jr. recently purchased 100,000 shares of Corcept common stock, increasing his direct holdings to 1,146,631 shares. That purchase represents a separate insider move amid the company’s broader financial and legal developments.
Taken together, the transactions highlight a mix of insider activity - a senior executive selling shares while exercising options, and a director adding a sizable block of stock - against a backdrop of missed revenue and EPS targets, regulatory litigation, and a substantial decline in share price.