Concert Pharmaceuticals, Inc. (CNCE) Stake Raised by JPMorgan Chase & Co.
JPMorgan Chase & Co. raised its stake in shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) by 27.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,783 shares of the biotechnology company’s stock after buying an additional 11,392 shares during the period. JPMorgan Chase & Co. owned approximately 0.23% of Concert Pharmaceuticals worth $900,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in shares of Concert Pharmaceuticals during the first quarter valued at about $138,000. Hillsdale Investment Management Inc. bought a new position in Concert Pharmaceuticals during the first quarter worth $143,000. Highbridge Capital Management LLC raised its position in Concert Pharmaceuticals by 46.4% in the fourth quarter. Highbridge Capital Management LLC now owns 15,677 shares of the biotechnology company’s stock worth $161,000 after buying an additional 4,967 shares in the last quarter. Rockefeller Financial Services Inc. raised its position in Concert Pharmaceuticals by 19.6% in the first quarter. Rockefeller Financial Services Inc. now owns 10,289 shares of the biotechnology company’s stock worth $176,000 after buying an additional 1,689 shares in the last quarter. Finally, Hikari Power Ltd bought a new position in Concert Pharmaceuticals during the first quarter worth $200,000. Institutional investors own 61.95% of the company’s stock.
Shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) traded up 0.64% during midday trading on Friday, reaching $14.26. The company’s stock had a trading volume of 74,252 shares. Concert Pharmaceuticals, Inc. has a 12 month low of $7.11 and a 12 month high of $19.11. The company’s market cap is $323.52 million. The company’s 50-day moving average price is $14.30 and its 200-day moving average price is $14.08.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.04. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.20 million. On average, equities analysts anticipate that Concert Pharmaceuticals, Inc. will post ($2.48) EPS for the current fiscal year.
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A number of research firms have recently weighed in on CNCE. Zacks Investment Research upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Concert Pharmaceuticals in a research report on Wednesday, August 9th. BidaskClub downgraded Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price (down from $31.00) on shares of Concert Pharmaceuticals in a research report on Monday, July 10th. Finally, ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Concert Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $25.17.
Concert Pharmaceuticals Company Profile
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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