Matarin Capital Management LLC purchased a new stake in shares of Concert Pharmaceuticals (NASDAQ:CNCE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 285,450 shares of the biotechnology company’s stock, valued at approximately $6,537,000. Matarin Capital Management LLC owned about 1.22% of Concert Pharmaceuticals at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CNCE. Metropolitan Life Insurance Co. NY bought a new stake in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $164,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Concert Pharmaceuticals during the first quarter valued at approximately $197,000. MetLife Investment Advisors LLC bought a new stake in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $232,000. Tyers Asset Management LLC bought a new stake in shares of Concert Pharmaceuticals during the first quarter valued at approximately $236,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Concert Pharmaceuticals during the first quarter valued at approximately $295,000. 74.41% of the stock is currently owned by institutional investors.
In other Concert Pharmaceuticals news, insider James V. Cassella sold 10,582 shares of the company’s stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $20.18, for a total value of $213,544.76. Following the completion of the sale, the insider now directly owns 30,000 shares in the company, valued at approximately $605,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.40% of the company’s stock.
A number of research firms have recently weighed in on CNCE. TheStreet cut Concert Pharmaceuticals from a “b-” rating to a “c” rating in a report on Thursday, March 29th. Zacks Investment Research cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. HC Wainwright lifted their price target on Concert Pharmaceuticals from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 4th. Mizuho reaffirmed a “hold” rating and set a $23.00 price target on shares of Concert Pharmaceuticals in a report on Thursday, February 1st. Finally, ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Concert Pharmaceuticals has an average rating of “Buy” and an average price target of $26.50.
NASDAQ CNCE opened at $20.21 on Thursday. The company has a market cap of $477.04 million, a P/E ratio of 4.95 and a beta of 1.05. Concert Pharmaceuticals has a 12 month low of $11.88 and a 12 month high of $30.71.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, May 3rd. The biotechnology company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.39. The company had revenue of $10.48 million for the quarter. Concert Pharmaceuticals had a negative return on equity of 23.57% and a net margin of 67.71%. research analysts expect that Concert Pharmaceuticals will post -2.21 EPS for the current fiscal year.
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 of various pulmonary diseases, including 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, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.
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