Value Fund L. P. Biotechnology Sells 1,282,856 Shares of Concert Pharmaceuticals Inc (CNCE) Stock

Concert Pharmaceuticals Inc (NASDAQ:CNCE) insider Value Fund L. P. Biotechnology sold 1,282,856 shares of Concert Pharmaceuticals stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $26.65, for a total value of $34,188,112.40. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Concert Pharmaceuticals Inc (NASDAQ CNCE) opened at $25.60 on Friday. The stock has a market capitalization of $559.98, a PE ratio of 6.83 and a beta of 1.66. Concert Pharmaceuticals Inc has a 52-week low of $8.61 and a 52-week high of $30.71.

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position 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 valued at $210,000 after acquiring an additional 287 shares during the period. Geode Capital Management LLC increased its position in Concert Pharmaceuticals by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 142,740 shares of the biotechnology company’s stock valued at $2,435,000 after acquiring an additional 838 shares during the period. Alps Advisors Inc. increased its position in Concert Pharmaceuticals by 6.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,362 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 1,200 shares during the period. Rhumbline Advisers increased its position in Concert Pharmaceuticals by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 20,253 shares of the biotechnology company’s stock valued at $283,000 after acquiring an additional 1,500 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Concert Pharmaceuticals by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 125,996 shares of the biotechnology company’s stock worth $1,757,000 after purchasing an additional 1,852 shares during the period. Hedge funds and other institutional investors own 65.29% of the company’s stock.

A number of analysts have recently commented on CNCE shares. Zacks Investment Research upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Tuesday, August 29th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Concert Pharmaceuticals in a research report on Friday, November 10th. Mizuho started coverage on Concert Pharmaceuticals in a research report on Thursday, October 26th. They set a “buy” rating and a $23.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 target price on shares of Concert Pharmaceuticals in a research report on Sunday, October 22nd. Finally, UBS set a $34.00 target price on Concert Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.83.

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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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