Value Fund L. P. Biotechnology Buys 331,916 Shares of Concert Pharmaceuticals, Inc. (CNCE) Stock
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) insider Value Fund L. P. Biotechnology bought 331,916 shares of Concert Pharmaceuticals stock in a transaction on Thursday, October 19th. The shares were purchased at an average cost of $15.84 per share, with a total value of $5,257,549.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Concert Pharmaceuticals, Inc. (CNCE) traded down 2.11% during midday trading on Monday, hitting $15.75. The company had a trading volume of 209,339 shares. The stock’s market cap is $357.32 million. The stock’s 50-day moving average price is $14.94 and its 200-day moving average price is $14.66. Concert Pharmaceuticals, Inc. has a 52-week low of $7.11 and a 52-week high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. Concert Pharmaceuticals had a negative return on equity of 61.98% and a negative net margin of 60,681.70%. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.20 million. On average, equities research analysts expect that Concert Pharmaceuticals, Inc. will post ($2.18) EPS for the current fiscal year.
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A number of equities analysts have commented on the company. ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of Concert Pharmaceuticals in a report on Friday. BidaskClub cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research raised Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.80.
A number of institutional investors and hedge funds have recently modified their holdings of CNCE. Citadel Advisors LLC acquired a new position in Concert Pharmaceuticals in the 2nd quarter valued at $6,634,000. Lyon Street Capital LLC raised its holdings in Concert Pharmaceuticals by 405.5% in the 2nd quarter. Lyon Street Capital LLC now owns 434,752 shares of the biotechnology company’s stock valued at $6,065,000 after acquiring an additional 348,741 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in Concert Pharmaceuticals by 14.5% in the 3rd quarter. Ingalls & Snyder LLC now owns 1,209,062 shares of the biotechnology company’s stock valued at $17,834,000 after acquiring an additional 153,062 shares during the last quarter. QS Investors LLC acquired a new position in Concert Pharmaceuticals in the 2nd quarter valued at $1,294,000. Finally, Vanguard Group Inc. raised its holdings in Concert Pharmaceuticals by 11.0% in the 2nd quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after acquiring an additional 74,801 shares during the last quarter. Institutional investors own 61.62% of the company’s stock.
Concert Pharmaceuticals Company Profile
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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