Concert Pharmaceuticals (NASDAQ:CNCE) Lowered to “Hold” at Truist Financial

Concert Pharmaceuticals (NASDAQ:CNCE – Get Rating) was downgraded by equities researchers at Truist Financial from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports.

Separately, StockNews.com raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, December 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.67.

Concert Pharmaceuticals Stock Down 0.1 %

Shares of CNCE opened at $8.28 on Thursday. The stock has a 50 day moving average price of $5.48 and a 200 day moving average price of $5.81. The company has a market capitalization of $396.93 million, a price-to-earnings ratio of -2.58 and a beta of 0.30. Concert Pharmaceuticals has a 52-week low of $2.57 and a 52-week high of $8.34.

Concert Pharmaceuticals (NASDAQ:CNCE – Get Rating) last posted 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, equities analysts anticipate that Concert Pharmaceuticals will post -2.7 EPS for the current fiscal year.

Insider Activity

In related news, CEO Roger D. Tung sold 9,240 shares of the business’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 owns 971,018 shares of the company’s stock, valued at $7,030,170.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.33% of the company’s stock.

Institutional Trading of Concert Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. International Biotechnology Trust PLC purchased a new stake in Concert Pharmaceuticals during the second quarter worth about $620,000. Jane Street Group LLC purchased a new stake in Concert Pharmaceuticals during the third quarter worth about $70,000. BNP Paribas Arbitrage SNC boosted 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 worth $74,000 after buying an additional 10,946 shares in the last quarter. UBS Group AG boosted 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 worth $94,000 after buying an additional 4,142 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Concert Pharmaceuticals during the first quarter worth about $47,000. Hedge funds and other institutional investors own 70.63% of the company’s stock.

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.