TIAA CREF Investment Management LLC Purchases 4,636 Shares of Concert Pharmaceuticals, Inc. (CNCE)
TIAA CREF Investment Management LLC grew its position in shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,819 shares of the biotechnology company’s stock after purchasing an additional 4,636 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.58% of Concert Pharmaceuticals worth $1,811,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CNCE. American International Group Inc. increased its holdings in shares of Concert Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 677 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in Concert Pharmaceuticals in the 2nd quarter worth $174,000. State of Wisconsin Investment Board purchased a new stake in Concert Pharmaceuticals in the 2nd quarter worth $181,000. Airain ltd purchased a new stake in Concert Pharmaceuticals in the 2nd quarter worth $215,000. Finally, Rhumbline Advisers increased its holdings in Concert Pharmaceuticals by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 20,253 shares of the biotechnology company’s stock worth $283,000 after acquiring an additional 1,500 shares in the last quarter. 62.17% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the stock. Mizuho assumed coverage on shares of Concert Pharmaceuticals in a report on Thursday, October 26th. They issued a “buy” rating and a $23.00 price target for the company. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Concert Pharmaceuticals in a report on Friday, October 20th. Finally, ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $23.00.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.20 million. Concert Pharmaceuticals had a negative return on equity of 61.98% and a negative net margin of 60,681.70%.
In other news, insider Ryan Lynch sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $14.51, for a total value of $50,785.00. Following the completion of the transaction, the insider now owns 9,500 shares in the company, valued at $137,845. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Value Fund L. P. Biotechnology purchased 331,916 shares of the company’s stock in a transaction dated Thursday, October 19th. The stock was purchased at an average price of $15.84 per share, with a total value of $5,257,549.44. The disclosure for this purchase can be found here. Company insiders own 10.10% of the company’s stock.
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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