California Public Employees Retirement System Increases Position in Concert Pharmaceuticals Inc (NASDAQ:CNCE)

California Public Employees Retirement System lifted its position in shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 67.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 149,079 shares of the biotechnology company’s stock after purchasing an additional 59,800 shares during the quarter. California Public Employees Retirement System’s holdings in Concert Pharmaceuticals were worth $1,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new position in shares of Concert Pharmaceuticals during the 4th quarter valued at about $48,000. BNP Paribas Arbitrage SA raised its holdings in shares of Concert Pharmaceuticals by 63,200.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,431 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 4,424 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Concert Pharmaceuticals by 452.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,553 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 6,185 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Concert Pharmaceuticals during the 1st quarter valued at about $143,000. Finally, Rhumbline Advisers raised its holdings in shares of Concert Pharmaceuticals by 42.4% during the 4th quarter. Rhumbline Advisers now owns 31,261 shares of the biotechnology company’s stock valued at $392,000 after buying an additional 9,313 shares in the last quarter. 74.60% of the stock is currently owned by institutional investors.

Shares of Concert Pharmaceuticals stock opened at $10.35 on Thursday. The company has a quick ratio of 20.44, a current ratio of 20.44 and a debt-to-equity ratio of 0.11. Concert Pharmaceuticals Inc has a one year low of $9.21 and a one year high of $20.21.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.31). The company had revenue of $1.01 million during the quarter, compared to analysts’ expectations of $16.08 million. Concert Pharmaceuticals had a negative return on equity of 41.72% and a negative net margin of 7,118.04%. Analysts anticipate that Concert Pharmaceuticals Inc will post -3.86 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on CNCE. BidaskClub cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Zacks Investment Research raised Concert Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 1st. Mizuho reissued a “buy” rating and set a $23.00 price objective on shares of Concert Pharmaceuticals in a report on Friday, May 17th. Stifel Nicolaus decreased their price objective on Concert Pharmaceuticals from $27.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, JMP Securities decreased their price objective on Concert Pharmaceuticals from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.00.

In other Concert Pharmaceuticals news, major shareholder Bvf Partners L. P/Il sold 386,289 shares of Concert Pharmaceuticals stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $10.70, for a total value of $4,133,292.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is owned by insiders.

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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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