Concert Pharmaceuticals Inc (NASDAQ:CNCE) insider Value Fund L. P. Biotechnology sold 1,282,856 shares of Concert Pharmaceuticals stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total transaction of $34,188,112.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Concert Pharmaceuticals Inc (CNCE) opened at $20.15 on Friday. Concert Pharmaceuticals Inc has a 52-week low of $8.61 and a 52-week high of $30.71. The company has a market cap of $458.87, a PE ratio of 5.37 and a beta of 1.67.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Concert Pharmaceuticals during the 3rd quarter worth about $153,000. Alliancebernstein L.P. bought a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth about $174,000. State of Wisconsin Investment Board bought a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth about $181,000. The Manufacturers Life Insurance Company raised its position in shares of Concert Pharmaceuticals by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after buying an additional 287 shares in the last quarter. Finally, Airain ltd bought a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth about $215,000. Institutional investors own 65.29% of the company’s stock.
Several brokerages recently weighed in on CNCE. Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday. Mizuho downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research report on Friday. TheStreet upgraded shares of Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. BidaskClub downgraded shares of Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 22nd. Finally, UBS Group set a $34.00 price objective on shares of Concert Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, December 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $24.33.
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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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