Flagship Harbor Advisors LLC Boosts Holdings in Concert Pharmaceuticals Inc (NASDAQ:CNCE)

Flagship Harbor Advisors LLC grew its holdings in shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 163.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,000 shares of the biotechnology company’s stock after acquiring an additional 3,100 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Concert Pharmaceuticals were worth $29,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CNCE. Parametric Portfolio Associates LLC increased its stake in shares of Concert Pharmaceuticals by 10.6% in the second quarter. Parametric Portfolio Associates LLC now owns 11,349 shares of the biotechnology company’s stock worth $136,000 after buying an additional 1,089 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Concert Pharmaceuticals by 1.4% in the second quarter. JPMorgan Chase & Co. now owns 150,592 shares of the biotechnology company’s stock worth $1,768,000 after buying an additional 2,097 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Concert Pharmaceuticals in the second quarter worth $27,000. Charles Schwab Investment Management Inc. increased its stake in shares of Concert Pharmaceuticals by 5.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 48,827 shares of the biotechnology company’s stock worth $586,000 after buying an additional 2,658 shares during the period. Finally, Aperio Group LLC purchased a new position in shares of Concert Pharmaceuticals in the second quarter worth $43,000. 70.76% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently commented on CNCE shares. Zacks Investment Research downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Mizuho reaffirmed a “buy” rating and issued a $18.00 target price (down from $29.00) on shares of Concert Pharmaceuticals in a research note on Monday, September 30th. SunTrust Banks decreased their target price on shares of Concert Pharmaceuticals from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. HC Wainwright decreased their target price on shares of Concert Pharmaceuticals from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their target price for the stock from $18.00 to $8.00 in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Concert Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $15.63.

In related news, Director Peter Barton Hutt sold 3,539 shares of Concert Pharmaceuticals stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $10.31, for a total value of $36,487.09. Following the sale, the director now owns 7,963 shares in the company, valued at $82,098.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heek Christi Van purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $5.90 per share, for a total transaction of $29,500.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $29,500. The disclosure for this purchase can be found here. Insiders own 11.00% of the company’s stock.

NASDAQ:CNCE opened at $6.19 on Tuesday. The stock has a market cap of $145.42 million, a P/E ratio of -2.58 and a beta of 0.90. The firm’s fifty day simple moving average is $7.75 and its 200 day simple moving average is $9.95. Concert Pharmaceuticals Inc has a twelve month low of $5.36 and a twelve month high of $17.83. The company has a quick ratio of 19.63, a current ratio of 19.63 and a debt-to-equity ratio of 0.12.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.14. The business had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.30 million. Concert Pharmaceuticals had a negative net margin of 7,303.34% and a negative return on equity of 49.44%. On average, analysts expect that Concert Pharmaceuticals Inc will post -3.45 EPS for the current fiscal year.

About Concert Pharmaceuticals

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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Institutional Ownership by Quarter for Concert Pharmaceuticals (NASDAQ:CNCE)

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