Prudential Financial Inc. lowered its holdings in shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 34.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,910 shares of the biotechnology company’s stock after selling 33,720 shares during the quarter. Prudential Financial Inc. owned approximately 0.29% of Concert Pharmaceuticals worth $958,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CNCE. Alliancebernstein L.P. purchased a new stake in Concert Pharmaceuticals in the 2nd quarter worth approximately $174,000. State of Wisconsin Investment Board purchased a new stake in Concert Pharmaceuticals in the 2nd quarter worth approximately $181,000. The Manufacturers Life Insurance Company increased its holdings in Concert Pharmaceuticals by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after acquiring an additional 287 shares in the last quarter. Airain ltd purchased a new stake in Concert Pharmaceuticals in the 2nd quarter worth approximately $215,000. Finally, OxFORD Asset Management LLP increased its holdings in Concert Pharmaceuticals by 42.1% in the 2nd quarter. OxFORD Asset Management LLP now owns 19,711 shares of the biotechnology company’s stock worth $275,000 after acquiring an additional 5,835 shares in the last quarter. 65.36% of the stock is owned by hedge funds and other institutional investors.
Shares of Concert Pharmaceuticals Inc (NASDAQ CNCE) opened at $24.90 on Friday. Concert Pharmaceuticals Inc has a fifty-two week low of $7.11 and a fifty-two week high of $26.37.
In other Concert Pharmaceuticals news, Director Ronald W. Barrett sold 14,156 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $24.70, for a total transaction of $349,653.20. Following the completion of the sale, the director now directly owns 3,539 shares of the company’s stock, valued at approximately $87,413.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan Lynch sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the sale, the insider now directly owns 9,500 shares of the company’s stock, valued at $137,845. The disclosure for this sale can be found here. Company insiders own 10.10% of the company’s stock.
CNCE has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Concert Pharmaceuticals in a report on Monday, September 18th. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Mizuho initiated coverage on shares of Concert Pharmaceuticals in a report on Thursday, October 26th. They issued a “buy” rating and a $23.00 target price for the company. Finally, TheStreet raised shares of Concert Pharmaceuticals from a “d” rating to a “c+” rating in a report on Wednesday, November 29th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price 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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