Driehaus Capital Management LLC lessened its stake in shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 61.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the biotechnology company’s stock after selling 162,569 shares during the quarter. Driehaus Capital Management LLC owned about 0.44% of Concert Pharmaceuticals worth $2,587,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Concert Pharmaceuticals during the third quarter valued at approximately $153,000. Alliancebernstein L.P. acquired a new position in shares of Concert Pharmaceuticals during the second quarter valued at approximately $174,000. The Manufacturers Life Insurance Company increased its stake in shares of Concert Pharmaceuticals by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock valued at $210,000 after acquiring an additional 287 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Concert Pharmaceuticals by 213.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,650 shares of the biotechnology company’s stock valued at $404,000 after acquiring an additional 10,650 shares during the period. Finally, Princeton Capital Management LLC acquired a new position in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $411,000. Institutional investors and hedge funds own 70.26% of the company’s stock.
Several research analysts have issued reports on the stock. BidaskClub upgraded shares of Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 9th. Mizuho lowered shares of Concert Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Friday, January 12th. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. TheStreet upgraded shares of Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Finally, UBS set a $34.00 price target on shares of Concert Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Concert Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $25.67.
In other Concert Pharmaceuticals news, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of Concert Pharmaceuticals stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Aldrich sold 11,946 shares of Concert Pharmaceuticals stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $20.89, for a total transaction of $249,551.94. Following the sale, the director now directly owns 286,975 shares of the company’s stock, valued at approximately $5,994,907.75. The disclosure for this sale can be found here. Insiders sold a total of 1,419,092 shares of company stock valued at $36,876,675 in the last ninety days. Company insiders own 10.10% of the company’s stock.
Concert Pharmaceuticals stock traded down $0.19 during trading on Monday, reaching $22.63. 68,564 shares of the company were exchanged, compared to its average volume of 435,199. Concert Pharmaceuticals Inc has a 1 year low of $11.88 and a 1 year high of $30.71. The firm has a market cap of $530.18, a price-to-earnings ratio of 5.71 and a beta of 1.07.
Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). Concert Pharmaceuticals had a negative return on equity of 36.25% and a net margin of 66.47%. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $8.11 million. research analysts expect that Concert Pharmaceuticals Inc will post -2.35 earnings per share for the current year.
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Concert Pharmaceuticals 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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