Concert Pharmaceuticals Target of Unusually Large Options Trading (CNCE)
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 973 call options on the stock. This is an increase of Infinity compared to the average volume of 0 call options.
CNCE has been the topic of several research analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price target on shares of Concert Pharmaceuticals in a research note on Sunday, October 22nd. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Concert Pharmaceuticals in a research note on Monday, September 18th. Zacks Investment Research cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Mizuho initiated 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. Finally, BidaskClub cut shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.00.
In other news, insider Ryan Lynch sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the sale, the insider now directly owns 9,500 shares of the company’s stock, valued at $137,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Value Fund L. P. Biotechnology purchased 331,916 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $5,257,549.44. The disclosure for this purchase can be found here. 10.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in Concert Pharmaceuticals in the third quarter valued at approximately $843,000. Alyeska Investment Group L.P. boosted its stake in Concert Pharmaceuticals by 1.8% in the third quarter. Alyeska Investment Group L.P. now owns 368,243 shares of the biotechnology company’s stock valued at $5,432,000 after acquiring an additional 6,576 shares during the last quarter. Lyon Street Capital LLC boosted its stake in Concert Pharmaceuticals by 6.5% in the third quarter. Lyon Street Capital LLC now owns 463,064 shares of the biotechnology company’s stock valued at $6,830,000 after acquiring an additional 28,312 shares during the last quarter. Senvest Management LLC boosted its stake in Concert Pharmaceuticals by 458.8% in the third quarter. Senvest Management LLC now owns 314,629 shares of the biotechnology company’s stock valued at $4,641,000 after acquiring an additional 258,329 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Concert Pharmaceuticals in the third quarter valued at approximately $153,000. 62.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Concert Pharmaceuticals (CNCE) opened at $20.67 on Friday. Concert Pharmaceuticals has a 52 week low of $7.11 and a 52 week high of $22.09.
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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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