Sunday, June 26, 2022

The Potential Rise in the Price of Concert Pharmaceuticals Inc. (CNCE) following insiders activity

Concert Pharmaceuticals Inc.’s filing revealed that its Director van Heek Christi acquired Company’s shares for reported $49998.0 on Jun 06. In the deal valued at $4.75 per share,10,526 shares were bought. As a result of this transaction, van Heek Christi now holds 25,651 shares worth roughly $ 0.11 million.

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Then, Auchincloss Thomas G bought 6,000 shares, generating $28,500 in total proceeds. Upon buying the shares at $4.75, the Director now owns 17,625 shares.

Before that, ALDRICH RICHARD bought 210,526 shares. Concert Pharmaceuticals Inc. shares valued at $999,998 were divested by the Director at a price of $4.75 per share. As a result of the transaction, ALDRICH RICHARD now holds 210,526 shares, worth roughly $0.88 million.

Meanwhile, Berenberg initiated its Concert Pharmaceuticals Inc. [CNCE] rating to a Buy in a research note published on Tuesday, December 16, 2020; the price target was $25. PT values the company’s stock at a premium of 83.36 to its Tuesday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in late March with a ‘”a Buy”‘ rating. H.C. Wainwright also remained covering CNCE and reiterated its “Buy” recommendation on October 03, 2019. SunTrust started covering the stock on June 24, 2019. It rated CNCE as “a Buy”.

Price Performance Review of CNCE

On Tuesday, Concert Pharmaceuticals Inc. [NASDAQ:CNCE] saw its stock jump 1.46% to $4.16. On the same session, the stock had its day’s lowest price of $4.045, but rose to a high of $4.40. Over the last five days, the stock has gained 0.24%. Concert Pharmaceuticals Inc. shares have risen nearly 32.06% since the year began. Nevertheless, the stocks have fallen -0.48% over the past one year. While a 52-week high of $6.88 was reached on 05/31/22, a 52-week low of $2.57 was recorded on 02/24/22. SMA at 50 days reached $3.94, while 200 days put it at $3.45. A total of 0.64 million shares were traded, compared to the trading of 0.69 million shares in the previous session.

Levels Of Support And Resistance For CNCE Stock

The 24-hour chart illustrates a support level at 4.00, which if violated will result in even more drops to 3.85. On the upside, there is a resistance level at 4.36. A further resistance level may holdings at 4.56. The Relative Strength Index (RSI) on the 14-day chart is 46.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.55%. Stochastics %K at 9.73% indicates the stock is a buying.

How much short interest is there in Concert Pharmaceuticals Inc.?

A steep rise in short interest was recorded in Concert Pharmaceuticals Inc. stocks on Apr 28, 2022, dropping by 37090.0 shares to a total of 0.14 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 0.17 million shares. There was a decline of -27.04%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.44% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.89.

Concert Pharmaceuticals Inc. [CNCE] – Who Are The Largest Shareholders?

In filings from RA Capital Management LP, it is revealed that the company now owns 3,033,603 shares, or roughly 8.35% of the outstanding CNCE shares. In other words, the investor’s shares have fallen by 0 from its previous 13-F filing of 3033603.0. Additionally, BVF Partners LP decreased 0.00% of its stake after which the total value it holdings stand at $14,329,080, while Perceptive Advisors LLC reduced 0.00% of its stake to hold $13.68 million in the firm. Over the last quarter, Ingalls & Snyder LLC sold -41,150 shares of Concert Pharmaceuticals Inc., while Millennium Management LLC sold -103,817 shares. At present, Medical Strategy GmbH is holding 875,038 shares valued at $5.57 million. The Vanguard Group, Inc. owned 869,923 shares of the company at the time of its most recent 13F filing, worth $5.53 million.

According to FactSet, Concert Pharmaceuticals Inc.’s share price will average $13.58 in the next year, based on opinions of analysts polled by the firm. This is up nearly 192.68 percent from its previous closing price of $4.10. Analysts expect Concert Pharmaceuticals Inc. stock to reach the higher price of $22.00, while the lowest price estimate is $9.00. However, 6 analysts have rated CNCE stock as a Buy in their predictions for 2022.

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