Insider Buying: Constellation Pharmaceuticals Inc (NASDAQ:CNST) Major Shareholder Purchases 1,411,764 Shares of Stock

Constellation Pharmaceuticals Inc (NASDAQ:CNST) major shareholder Group L. P. Column bought 1,411,764 shares of the stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average price of $8.50 per share, with a total value of $11,999,994.00. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

CNST traded up $0.21 during trading on Wednesday, reaching $7.99. The company had a trading volume of 9,832 shares, compared to its average volume of 73,551. The stock has a market cap of $214.07 million, a P/E ratio of -1.60 and a beta of 4.88. The business has a 50 day simple moving average of $7.42 and a 200-day simple moving average of $9.80. Constellation Pharmaceuticals Inc has a 52 week low of $4.01 and a 52 week high of $14.04. The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 0.44.

Constellation Pharmaceuticals (NASDAQ:CNST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.80). As a group, equities research analysts expect that Constellation Pharmaceuticals Inc will post -3.06 EPS for the current fiscal year.

A number of research analysts have recently commented on CNST shares. Royal Bank of Canada assumed coverage on Constellation Pharmaceuticals in a research report on Wednesday, September 4th. They set an “outperform” rating and a $20.00 target price for the company. Zacks Investment Research downgraded Constellation Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine downgraded Constellation Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Constellation Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $16.80.

A number of institutional investors and hedge funds have recently modified their holdings of CNST. Vanguard Group Inc. lifted its position in Constellation Pharmaceuticals by 30.7% in the second quarter. Vanguard Group Inc. now owns 530,331 shares of the company’s stock worth $6,513,000 after buying an additional 124,591 shares during the last quarter. P.A.W. Capital Corp bought a new stake in Constellation Pharmaceuticals in the second quarter worth $1,474,000. BlackRock Inc. lifted its position in Constellation Pharmaceuticals by 13.0% in the second quarter. BlackRock Inc. now owns 820,432 shares of the company’s stock worth $10,074,000 after buying an additional 94,107 shares during the last quarter. Alps Advisors Inc. bought a new stake in Constellation Pharmaceuticals in the second quarter worth $663,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Constellation Pharmaceuticals in the second quarter worth $329,000. Institutional investors own 65.71% of the company’s stock.

Constellation Pharmaceuticals Company Profile

Constellation Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance. The company's lead product candidates include CPI-0610 that is in Phase II clinical trials for the treatment of patients with myelofibrosis in combination with ruxolitinib; and CPI-1205 that is in Phase Ib/II clinical trials for the treatment of metastatic castration-resistant prostate cancer in combination with androgen receptor signaling inhibitors.

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