Concert Pharmaceuticals Inc (NASDAQ:CNCE) Major Shareholder Sells $4,133,292.30 in Stock

Concert Pharmaceuticals Inc (NASDAQ:CNCE) major shareholder Bvf Partners L. P/Il sold 386,289 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $10.70, for a total value of $4,133,292.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of NASDAQ:CNCE traded up $0.26 during trading on Wednesday, reaching $10.35. The company’s stock had a trading volume of 138,143 shares, compared to its average volume of 234,407. The company has a current ratio of 20.44, a quick ratio of 20.44 and a debt-to-equity ratio of 0.11. Concert Pharmaceuticals Inc has a 12 month low of $9.21 and a 12 month high of $20.21. The company has a market cap of $239.19 million, a price-to-earnings ratio of -4.32 and a beta of 0.85.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.31). Concert Pharmaceuticals had a negative net margin of 7,118.04% and a negative return on equity of 41.72%. The business had revenue of $1.01 million during the quarter, compared to the consensus estimate of $16.08 million. As a group, equities analysts forecast that Concert Pharmaceuticals Inc will post -3.86 EPS for the current year.

Several large investors have recently made changes to their positions in CNCE. Perceptive Advisors LLC increased its position in shares of Concert Pharmaceuticals by 17.7% during the first quarter. Perceptive Advisors LLC now owns 2,204,641 shares of the biotechnology company’s stock worth $26,610,000 after acquiring an additional 330,862 shares during the period. BlackRock Inc. increased its position in shares of Concert Pharmaceuticals by 1.4% in the 1st quarter. BlackRock Inc. now owns 1,724,712 shares of the biotechnology company’s stock valued at $20,818,000 after purchasing an additional 24,227 shares during the last quarter. BVF Inc. IL increased its position in shares of Concert Pharmaceuticals by 20.4% in the 1st quarter. BVF Inc. IL now owns 1,385,487 shares of the biotechnology company’s stock valued at $16,723,000 after purchasing an additional 235,042 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Concert Pharmaceuticals by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,225,849 shares of the biotechnology company’s stock valued at $18,192,000 after purchasing an additional 91,659 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Concert Pharmaceuticals by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,139,433 shares of the biotechnology company’s stock valued at $13,754,000 after purchasing an additional 10,267 shares during the last quarter. 74.60% of the stock is owned by hedge funds and other institutional investors.

CNCE has been the subject of a number of research analyst reports. BidaskClub upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Mizuho restated a “buy” rating and set a $23.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, May 17th. HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, May 3rd. Zacks Investment Research upgraded Concert Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, TheStreet lowered Concert Pharmaceuticals from a “c-” rating to a “d” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.00.

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Concert Pharmaceuticals Company Profile

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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