Investors Buy High Volume of Concert Pharmaceuticals Call Options (CNCE)

Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was the target of unusually large options trading activity on Tuesday. Traders bought 973 call options on the stock. This is an increase of approximately Infinity compared to the typical daily volume of 0 call options.

Concert Pharmaceuticals (NASDAQ CNCE) opened at $20.91 on Friday. Concert Pharmaceuticals has a twelve month low of $7.11 and a twelve month high of $22.09.

In other news, insider Ryan Lynch sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total value of $50,785.00. Following the transaction, the insider now owns 9,500 shares in the company, valued at $137,845. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Value Fund L. P. Biotechnology bought 331,916 shares of the company’s stock in a transaction dated Thursday, October 19th. The stock was purchased at an average price of $15.84 per share, for a total transaction of $5,257,549.44. The disclosure for this purchase can be found here. Insiders own 10.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Ingalls & Snyder LLC increased its holdings in Concert Pharmaceuticals by 14.5% during the third quarter. Ingalls & Snyder LLC now owns 1,209,062 shares of the biotechnology company’s stock valued at $17,834,000 after buying an additional 153,062 shares during the last quarter. Vanguard Group Inc. increased its holdings in Concert Pharmaceuticals by 11.0% during the second quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after buying an additional 74,801 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Concert Pharmaceuticals during the second quarter valued at approximately $6,634,000. Lyon Street Capital LLC increased its holdings in Concert Pharmaceuticals by 6.5% during the third quarter. Lyon Street Capital LLC now owns 463,064 shares of the biotechnology company’s stock valued at $6,830,000 after buying an additional 28,312 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Concert Pharmaceuticals by 1.8% in the third quarter. Alyeska Investment Group L.P. now owns 368,243 shares of the biotechnology company’s stock worth $5,432,000 after purchasing an additional 6,576 shares in the last quarter. 62.51% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of Concert Pharmaceuticals in a research note on Friday, November 10th. Mizuho started coverage on shares of Concert Pharmaceuticals in a research note on Thursday, October 26th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $23.00.

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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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