Rhumbline Advisers boosted its stake in Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 23.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,637 shares of the biotechnology company’s stock after buying an additional 4,124 shares during the period. Rhumbline Advisers’ holdings in Concert Pharmaceuticals were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CNCE. Acadian Asset Management LLC grew its position in Concert Pharmaceuticals by 11.3% in the 2nd quarter. Acadian Asset Management LLC now owns 941,282 shares of the biotechnology company’s stock valued at $15,841,000 after acquiring an additional 95,863 shares in the last quarter. Cambria Investment Management L.P. acquired a new position in Concert Pharmaceuticals in the 2nd quarter valued at about $216,000. Prudential Financial Inc. grew its position in Concert Pharmaceuticals by 43.7% in the 1st quarter. Prudential Financial Inc. now owns 73,904 shares of the biotechnology company’s stock valued at $1,693,000 after acquiring an additional 22,461 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Concert Pharmaceuticals in the 1st quarter valued at about $1,539,000. Finally, Spark Investment Management LLC acquired a new position in Concert Pharmaceuticals in the 1st quarter valued at about $3,311,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.

In other news, COO Nancy Stuart sold 31,418 shares of the business’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $17.87, for a total transaction of $561,439.66. Following the completion of the transaction, the chief operating officer now directly owns 116,085 shares of the company’s stock, valued at $2,074,438.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.40% of the company’s stock.

Several research firms have weighed in on CNCE. BidaskClub raised Concert Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday. Janney Montgomery Scott began coverage on Concert Pharmaceuticals in a research report on Thursday, September 13th. They issued a “neutral” rating for the company. ValuEngine downgraded Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. HC Wainwright reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research report on Friday, August 3rd. Finally, Mizuho reaffirmed a “buy” rating and issued a $27.00 target price on shares of Concert Pharmaceuticals in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.80.

Shares of Concert Pharmaceuticals stock opened at $13.52 on Friday. Concert Pharmaceuticals Inc has a one year low of $12.33 and a one year high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.57) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.05. Concert Pharmaceuticals had a negative return on equity of 19.73% and a net margin of 67.52%. research analysts anticipate that Concert Pharmaceuticals Inc will post -2.06 earnings per share for the current fiscal year.

Concert Pharmaceuticals Company 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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