Concert Pharmaceuticals (CNCE) Trading Up 5.7%

Shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) were up 5.7% on Monday . The company traded as high as $24.04 and last traded at $23.85. Approximately 562,800 shares were traded during trading, an increase of 131% from the average daily volume of 243,719 shares. The stock had previously closed at $22.56.

A number of analysts have recently issued reports on CNCE shares. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Concert Pharmaceuticals in a research note on Monday, September 18th. ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. TheStreet raised Concert Pharmaceuticals from a “d” rating to a “c+” rating in a research report on Wednesday, November 29th. Finally, Mizuho began coverage on Concert Pharmaceuticals in a research report on Thursday, October 26th. They set a “buy” rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.00.

In other Concert Pharmaceuticals news, insider Value Fund L. P. Biotechnology acquired 331,916 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were acquired at an average cost of $15.84 per share, for a total transaction of $5,257,549.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Lynch sold 3,500 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Corporate insiders own 10.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TIAA CREF Investment Management LLC increased its holdings in shares of Concert Pharmaceuticals by 18.0% during the first quarter. TIAA CREF Investment Management LLC now owns 125,183 shares of the biotechnology company’s stock worth $2,136,000 after purchasing an additional 19,078 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Concert Pharmaceuticals by 6.1% during the first quarter. Vanguard Group Inc. now owns 681,712 shares of the biotechnology company’s stock worth $11,630,000 after purchasing an additional 38,892 shares during the period. Geode Capital Management LLC lifted its holdings in Concert Pharmaceuticals by 0.6% in the first quarter. Geode Capital Management LLC now owns 142,740 shares of the biotechnology company’s stock valued at $2,435,000 after buying an additional 838 shares during the period. Goldman Sachs Group Inc. increased its stake in Concert Pharmaceuticals by 143.2% in the first quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock valued at $552,000 after purchasing an additional 19,046 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Concert Pharmaceuticals by 47.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 32,122 shares of the biotechnology company’s stock valued at $449,000 after purchasing an additional 10,400 shares in the last quarter. 65.36% of the stock is currently owned by institutional investors.

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About Concert Pharmaceuticals

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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