Concert Pharmaceuticals Inc (NASDAQ:CNCE) Shares Purchased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA grew its stake in shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 63,200.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,431 shares of the biotechnology company’s stock after buying an additional 4,424 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Concert Pharmaceuticals were worth $53,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Concert Pharmaceuticals by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,831 shares of the biotechnology company’s stock valued at $2,773,000 after acquiring an additional 34,920 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Concert Pharmaceuticals by 2.0% during the fourth quarter. Prudential Financial Inc. now owns 81,616 shares of the biotechnology company’s stock valued at $1,024,000 after purchasing an additional 1,610 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $48,000. Dimensional Fund Advisors LP lifted its holdings in shares of Concert Pharmaceuticals by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,129,166 shares of the biotechnology company’s stock valued at $14,171,000 after purchasing an additional 59,671 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Concert Pharmaceuticals by 29.7% during the third quarter. Morgan Stanley now owns 106,304 shares of the biotechnology company’s stock valued at $1,577,000 after purchasing an additional 24,361 shares during the last quarter. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on CNCE. BidaskClub lowered shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. HC Wainwright reiterated a “buy” rating and set a $29.00 target price (up from $26.00) on shares of Concert Pharmaceuticals in a research note on Thursday, June 13th. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Mizuho reissued a “buy” rating and set a $23.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, May 17th. Finally, Stifel Nicolaus cut their price objective on shares of Concert Pharmaceuticals from $27.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $21.29.

In other news, major shareholder Bvf Partners L. P/Il sold 386,289 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $10.70, for a total transaction of $4,133,292.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 9.40% of the stock is owned by corporate insiders.

Shares of NASDAQ CNCE traded up $0.08 during mid-day trading on Monday, hitting $12.08. 102,500 shares of the company’s stock traded hands, compared to its average volume of 239,953. The company has a debt-to-equity ratio of 0.11, a current ratio of 20.44 and a quick ratio of 20.44. Concert Pharmaceuticals Inc has a 1 year low of $9.21 and a 1 year high of $18.13. The company has a market capitalization of $285.55 million, a P/E ratio of -5.03 and a beta of 0.92. The business has a 50-day moving average of $10.86.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.93) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.31). The firm had revenue of $1.01 million during the quarter, compared to analysts’ expectations of $16.08 million. Concert Pharmaceuticals had a negative return on equity of 41.72% and a negative net margin of 7,118.04%. On average, equities analysts expect that Concert Pharmaceuticals Inc will post -3.78 EPS for the current fiscal year.

Concert Pharmaceuticals 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.

Further Reading: Risk Tolerance

Institutional Ownership by Quarter for Concert Pharmaceuticals (NASDAQ:CNCE)

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