Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 326,100 shares, a decline of 51.6% from the December 15th total of 674,000 shares. Based on an average daily trading volume, of 813,200 shares, the short-interest ratio is presently 0.4 days.
In other Concert Pharmaceuticals news, CEO Roger D. Tung sold 9,240 shares of the business’s stock in a transaction on Thursday, January 6th. The shares were sold at an average price of $3.09, for a total transaction of $28,551.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 18,834 shares of company stock valued at $62,037. Company insiders own 11.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Black Diamond Financial LLC increased its position in shares of Concert Pharmaceuticals by 33.3% during the third quarter. Black Diamond Financial LLC now owns 46,000 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 11,500 shares during the period. Renaissance Technologies LLC increased its holdings in Concert Pharmaceuticals by 7.6% during the second quarter. Renaissance Technologies LLC now owns 993,000 shares of the biotechnology company’s stock valued at $4,190,000 after buying an additional 69,776 shares during the period. Jump Financial LLC purchased a new position in Concert Pharmaceuticals during the second quarter valued at approximately $154,000. Public Employees Retirement System of Ohio increased its holdings in Concert Pharmaceuticals by 67.3% during the second quarter. Public Employees Retirement System of Ohio now owns 19,125 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 7,693 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Concert Pharmaceuticals by 14.7% during the second quarter. Squarepoint Ops LLC now owns 43,469 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 5,557 shares during the period. 60.73% of the stock is currently owned by institutional investors and hedge funds.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its earnings results on Tuesday, November 9th. The biotechnology company reported ($0.78) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.03. The business had revenue of $0.54 million for the quarter, compared to analyst estimates of $0.25 million. Concert Pharmaceuticals had a negative net margin of 203.59% and a negative return on equity of 56.79%. During the same period last year, the company posted ($0.60) earnings per share. Sell-side analysts anticipate that Concert Pharmaceuticals will post -2.07 earnings per share for the current year.
A number of brokerages recently commented on CNCE. JMP Securities lowered their price target on shares of Concert Pharmaceuticals from $17.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 12th. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Mizuho reissued a “buy” rating and issued a $9.00 price objective (down from $13.00) on shares of Concert Pharmaceuticals in a research report on Tuesday, October 5th.
About Concert Pharmaceuticals
Concert Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which discovers and develops novel small molecule drugs through the use of deuterium technology. Its product candidates target a range of diseases including autoimmune disorders, inflammation, and central nervous system disorders.
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