Concert Pharmaceuticals (NASDAQ:CNCE) Stock Crosses Below 200 Day Moving Average of $3.85

Concert Pharmaceuticals, Inc. (NASDAQ:CNCE)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.85 and traded as low as $2.85. Concert Pharmaceuticals shares last traded at $2.85, with a volume of 95,399 shares traded.

Several research firms have recently issued reports on CNCE. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Concert Pharmaceuticals in a research note on Friday, July 2nd. Mizuho restated a “buy” rating and issued a $9.00 price objective (down previously from $13.00) on shares of Concert Pharmaceuticals in a report on Tuesday, October 5th. Finally, Zacks Investment Research upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.00.

The firm has a market cap of $97.81 million, a price-to-earnings ratio of -1.69 and a beta of 0.47. The company has a fifty day moving average price of $3.38 and a two-hundred day moving average price of $3.84.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, August 5th. The biotechnology company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.88. Concert Pharmaceuticals had a negative return on equity of 47.22% and a negative net margin of 174.60%. The business had revenue of $32.02 million during the quarter. Research analysts predict that Concert Pharmaceuticals, Inc. will post -2.3 earnings per share for the current year.

In other news, insider James V. Cassella sold 8,086 shares of the company’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $3.28, for a total transaction of $26,522.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CNCE. BNP Paribas Arbitrage SA lifted its holdings in shares of Concert Pharmaceuticals by 91.7% during the first quarter. BNP Paribas Arbitrage SA now owns 10,997 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 5,259 shares during the last quarter. BlackRock Inc. raised its position in Concert Pharmaceuticals by 5.6% during the first quarter. BlackRock Inc. now owns 2,327,218 shares of the biotechnology company’s stock valued at $11,613,000 after buying an additional 122,709 shares during the period. New York State Common Retirement Fund raised its position in Concert Pharmaceuticals by 20.6% during the first quarter. New York State Common Retirement Fund now owns 23,400 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 4,000 shares during the period. Acadian Asset Management LLC raised its position in Concert Pharmaceuticals by 416.6% during the first quarter. Acadian Asset Management LLC now owns 533,573 shares of the biotechnology company’s stock valued at $2,662,000 after buying an additional 430,297 shares during the period. Finally, Geode Capital Management LLC raised its position in Concert Pharmaceuticals by 41.2% during the first quarter. Geode Capital Management LLC now owns 538,521 shares of the biotechnology company’s stock valued at $2,687,000 after buying an additional 157,154 shares during the period. 56.91% of the stock is owned by institutional investors and hedge funds.

About Concert Pharmaceuticals (NASDAQ:CNCE)

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.

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