California State Teachers Retirement System Cuts Stake in Concert Pharmaceuticals Inc (CNCE)
California State Teachers Retirement System lessened its holdings in Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,469 shares of the biotechnology company’s stock after selling 3,301 shares during the period. California State Teachers Retirement System’s holdings in Concert Pharmaceuticals were worth $420,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CNCE. SG Americas Securities LLC purchased a new stake in Concert Pharmaceuticals during the 3rd quarter worth $153,000. Alliancebernstein L.P. purchased a new stake in Concert Pharmaceuticals during the 2nd quarter worth $174,000. Princeton Capital Management Inc. purchased a new stake in Concert Pharmaceuticals during the 3rd quarter worth $215,000. The Manufacturers Life Insurance Company increased its stake in Concert Pharmaceuticals by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after buying an additional 287 shares during the period. Finally, OxFORD Asset Management LLP increased its stake in Concert Pharmaceuticals by 42.1% during the 2nd quarter. OxFORD Asset Management LLP now owns 19,711 shares of the biotechnology company’s stock worth $275,000 after buying an additional 5,835 shares during the period. 67.20% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on CNCE shares. TheStreet raised shares of Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. BidaskClub downgraded shares of Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 22nd. UBS Group set a $34.00 price target on shares of Concert Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of Concert Pharmaceuticals in a research note on Friday, November 10th. Finally, Mizuho started coverage on shares of Concert Pharmaceuticals in a research note on Thursday, October 26th. They set a “buy” rating and a $23.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $24.33.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.16). Concert Pharmaceuticals had a negative return on equity of 51.48% and a net margin of 62.31%. analysts predict that Concert Pharmaceuticals Inc will post 4.1 earnings per share for the current year.
In other Concert Pharmaceuticals news, Director Richard Aldrich sold 31,236 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $19.14, for a total transaction of $597,857.04. Following the completion of the transaction, the director now directly owns 286,975 shares of the company’s stock, valued at approximately $5,492,701.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald W. Barrett sold 14,156 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $24.70, for a total transaction of $349,653.20. Following the transaction, the director now directly owns 3,539 shares of the company’s stock, valued at $87,413.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,433,248 shares of company stock valued at $37,226,329. 10.10% of the stock is owned by company insiders.
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About Concert Pharmaceuticals
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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