Concert Pharmaceuticals (NASDAQ:CNCE) Shares Cross Above Fifty Day Moving Average of $5.29

Concert Pharmaceuticals, Inc. (NASDAQ:CNCE – Get Rating) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.29 and traded as high as $7.56. Concert Pharmaceuticals shares last traded at $7.40, with a volume of 663,240 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, December 9th.

Concert Pharmaceuticals Trading Up 5.0 %

The stock has a market capitalization of $354.74 million, a price-to-earnings ratio of -2.31 and a beta of 0.30. The stock’s 50 day moving average is $5.29 and its 200 day moving average is $5.76.

Concert Pharmaceuticals (NASDAQ:CNCE – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The biotechnology company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.01. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.33 million. On average, sell-side analysts anticipate that Concert Pharmaceuticals, Inc. will post -2.7 EPS for the current year.

Insiders Place Their Bets

In other Concert Pharmaceuticals news, CEO Roger D. Tung sold 9,240 shares of the firm’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $7.24, for a total transaction of $66,897.60. Following the sale, the chief executive officer now directly owns 971,018 shares of the company’s stock, valued at approximately $7,030,170.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Concert Pharmaceuticals

Several hedge funds have recently modified their holdings of CNCE. International Biotechnology Trust PLC purchased a new position in shares of Concert Pharmaceuticals during the 2nd quarter worth about $620,000. Jane Street Group LLC purchased a new position in shares of Concert Pharmaceuticals during the 3rd quarter worth about $70,000. BNP Paribas Arbitrage SNC lifted its holdings in shares of Concert Pharmaceuticals by 9,436.2% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 11,062 shares of the biotechnology company’s stock worth $74,000 after acquiring an additional 10,946 shares during the period. UBS Group AG lifted its holdings in shares of Concert Pharmaceuticals by 42.6% during the 3rd quarter. UBS Group AG now owns 13,861 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 4,142 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Concert Pharmaceuticals during the 1st quarter worth about $47,000. 70.63% of the stock is owned by institutional investors and hedge funds.

About Concert Pharmaceuticals

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Concert Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which discovers and develops novel small molecule drugs through the use of deuterium technology. Its product candidates target a range of diseases including autoimmune disorders, inflammation, and central nervous system disorders.