Constellation Pharmaceuticals Inc (NASDAQ:CNST)’s stock price rose 7.5% during trading on Friday . The company traded as high as $9.24 and last traded at $8.71, approximately 316,600 shares changed hands during trading. An increase of 322% from the average daily volume of 74,947 shares. The stock had previously closed at $8.10.
CNST has been the topic of a number of recent analyst reports. Zacks Investment Research raised Constellation Pharmaceuticals from a “sell” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Wednesday. ValuEngine cut Constellation Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada initiated coverage on Constellation Pharmaceuticals in a report on Wednesday, September 4th. They set an “outperform” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $16.35.
The stock has a 50-day moving average price of $7.42 and a two-hundred day moving average price of $9.75. The company has a current ratio of 5.85, a quick ratio of 5.85 and a debt-to-equity ratio of 0.44.
In other news, major shareholder Group L. P. Column acquired 1,411,764 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was purchased at an average price of $8.50 per share, for a total transaction of $11,999,994.00. Also, Director Anthony B. Evnin acquired 2,823,529 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average price of $8.50 per share, with a total value of $23,999,996.50. Company insiders own 43.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Constellation Pharmaceuticals by 13.0% during the second quarter. BlackRock Inc. now owns 820,432 shares of the company’s stock valued at $10,074,000 after purchasing an additional 94,107 shares in the last quarter. Vanguard Group Inc. grew its position in Constellation Pharmaceuticals by 30.7% in the second quarter. Vanguard Group Inc. now owns 530,331 shares of the company’s stock worth $6,513,000 after acquiring an additional 124,591 shares in the last quarter. Northern Trust Corp grew its position in Constellation Pharmaceuticals by 12.7% in the second quarter. Northern Trust Corp now owns 146,358 shares of the company’s stock worth $1,797,000 after acquiring an additional 16,548 shares in the last quarter. P.A.W. Capital Corp purchased a new position in Constellation Pharmaceuticals in the second quarter worth about $1,474,000. Finally, Alps Advisors Inc. purchased a new position in Constellation Pharmaceuticals in the second quarter worth about $663,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.
Constellation Pharmaceuticals Company Profile (NASDAQ:CNST)
Constellation Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance. The company's lead product candidates include CPI-0610 that is in Phase II clinical trials for the treatment of patients with myelofibrosis in combination with ruxolitinib; and CPI-1205 that is in Phase Ib/II clinical trials for the treatment of metastatic castration-resistant prostate cancer in combination with androgen receptor signaling inhibitors.
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