Concert Pharmaceuticals (NASDAQ:CNCE) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) from a hold rating to a sell rating in a research note published on Tuesday.

CNCE has been the subject of several other reports. Truist Financial boosted their price objective on shares of Concert Pharmaceuticals from $22.00 to $25.00 and gave the company a buy rating in a report on Tuesday, September 13th. Jonestrading began coverage on shares of Concert Pharmaceuticals in a report on Wednesday, August 24th. They set a buy rating and a $17.00 price objective for the company.

Concert Pharmaceuticals Stock Up 7.3 %

CNCE opened at $5.14 on Tuesday. The firm has a 50 day moving average price of $5.78 and a 200-day moving average price of $5.48. Concert Pharmaceuticals has a twelve month low of $2.57 and a twelve month high of $7.37. The stock has a market capitalization of $246.40 million, a price-to-earnings ratio of -1.60 and a beta of 0.50.

Institutional Trading of Concert Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Biotechnology Trust PLC purchased a new stake in Concert Pharmaceuticals during the second quarter valued at approximately $620,000. Roanoke Asset Management Corp NY purchased a new stake in Concert Pharmaceuticals during the first quarter valued at approximately $34,000. Jane Street Group LLC purchased a new stake in Concert Pharmaceuticals during the third quarter valued at approximately $70,000. BNP Paribas Arbitrage SNC increased its holdings in Concert Pharmaceuticals by 9,436.2% during the third quarter. BNP Paribas Arbitrage SNC now owns 11,062 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 10,946 shares during the last quarter. Finally, UBS Group AG increased its holdings in Concert Pharmaceuticals by 42.6% during the third quarter. UBS Group AG now owns 13,861 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 4,142 shares during the last quarter. 82.77% of the stock is owned by hedge funds and other institutional investors.

About Concert Pharmaceuticals

(Get Rating)

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that develops novel small molecule drugs for the treatment of autoimmune diseases. The company's lead product candidate is CTP-543, which is in Phase III clinical trial for the treatment of alopecia areata, a serious autoimmune dermatological condition.

Further Reading

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