Concert Pharmaceuticals (NASDAQ:CNCE) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Concert Pharmaceuticals (NASDAQ:CNCE) by 55.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 198,192 shares of the biotechnology company’s stock after buying an additional 70,468 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Concert Pharmaceuticals worth $5,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in Concert Pharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock valued at $210,000 after buying an additional 287 shares during the period. Alps Advisors Inc. raised its position in shares of Concert Pharmaceuticals by 12.5% during the fourth quarter. Alps Advisors Inc. now owns 25,139 shares of the biotechnology company’s stock worth $650,000 after purchasing an additional 2,796 shares during the period. Principal Financial Group Inc. raised its position in shares of Concert Pharmaceuticals by 3.0% during the third quarter. Principal Financial Group Inc. now owns 118,600 shares of the biotechnology company’s stock worth $1,749,000 after purchasing an additional 3,500 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Concert Pharmaceuticals by 14.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 36,621 shares of the biotechnology company’s stock worth $948,000 after purchasing an additional 4,499 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Concert Pharmaceuticals by 1.8% during 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 during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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CNCE stock opened at $19.84 on Monday. Concert Pharmaceuticals has a twelve month low of $11.88 and a twelve month high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.08). The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $8.11 million. Concert Pharmaceuticals had a net margin of 66.47% and a negative return on equity of 36.25%. analysts anticipate that Concert Pharmaceuticals will post -2.35 EPS for the current fiscal year.

In other Concert Pharmaceuticals news, Director Richard Aldrich sold 11,946 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $20.89, for a total value of $249,551.94. Following the completion of the transaction, the director now directly owns 286,975 shares in the company, valued at $5,994,907.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 136,236 shares of company stock valued at $2,688,563. Corporate insiders own 10.10% of the company’s stock.

A number of equities research analysts have recently commented on the company. TheStreet lowered Concert Pharmaceuticals from a “b-” rating to a “c” rating in a research report on Thursday, March 29th. Zacks Investment Research raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Mizuho reissued a “hold” rating and issued a $23.00 target price on shares of Concert Pharmaceuticals in a research report on Thursday, February 1st. HC Wainwright reissued a “buy” rating and issued a $25.00 target price (up previously from $21.00) on shares of Concert Pharmaceuticals in a research report on Friday, March 2nd. Finally, ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $25.67.

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Concert Pharmaceuticals Company Profile

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

Institutional Ownership by Quarter for Concert Pharmaceuticals (NASDAQ:CNCE)

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