Concert Pharmaceuticals (CNCE) Holdings Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in Concert Pharmaceuticals (NASDAQ:CNCE) by 575.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 97,870 shares of the biotechnology company’s stock after buying an additional 83,388 shares during the period. Wells Fargo & Company MN’s holdings in Concert Pharmaceuticals were worth $2,533,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Alps Advisors Inc. raised its holdings in Concert Pharmaceuticals by 12.5% in the fourth quarter. Alps Advisors Inc. now owns 25,139 shares of the biotechnology company’s stock worth $650,000 after buying an additional 2,796 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Concert Pharmaceuticals by 3.0% in the third quarter. Principal Financial Group Inc. now owns 118,600 shares of the biotechnology company’s stock worth $1,749,000 after buying an additional 3,500 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Concert Pharmaceuticals by 14.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 36,621 shares of the biotechnology company’s stock worth $948,000 after buying an additional 4,499 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings 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 worth $5,432,000 after buying an additional 6,576 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Concert Pharmaceuticals in the third quarter worth about $153,000. 70.26% of the stock is owned by institutional investors and hedge funds.

In other news, Director Richard Aldrich sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $19.35, for a total transaction of $580,500.00. Following the completion of the transaction, the director now directly owns 286,975 shares of the company’s stock, valued at $5,552,966.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 136,236 shares of company stock valued at $2,688,563 over the last three months. 10.10% of the stock is owned by corporate insiders.



Several research analysts have issued reports on CNCE shares. Mizuho raised shares of Concert Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $27.00 in a report on Friday, March 9th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Concert Pharmaceuticals in a report on Friday, March 2nd. BidaskClub cut shares of Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $27.00 price objective on shares of Concert Pharmaceuticals in a report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Concert Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $25.67.

CNCE opened at $19.39 on Thursday. Concert Pharmaceuticals has a twelve month low of $11.88 and a twelve month high of $30.71. The company has a market cap of $437.25, a PE ratio of 4.75 and a beta of 1.02.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). Concert Pharmaceuticals had a net margin of 66.47% and a negative return on equity of 36.25%. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $8.11 million. analysts anticipate that Concert Pharmaceuticals will post -2.35 EPS for the current fiscal year.

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Concert Pharmaceuticals Profile

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including 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, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; 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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