Alliancebernstein L.P. Invests $174,000 in Concert Pharmaceuticals, Inc. (CNCE) Stock
Alliancebernstein L.P. acquired a new position in shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,500 shares of the biotechnology company’s stock, valued at approximately $174,000. Alliancebernstein L.P. owned about 0.06% of Concert Pharmaceuticals as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Concert Pharmaceuticals by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 681,712 shares of the biotechnology company’s stock valued at $11,630,000 after acquiring an additional 38,892 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Concert Pharmaceuticals by 68.7% in the 2nd quarter. Fisher Asset Management LLC now owns 74,839 shares of the biotechnology company’s stock valued at $1,044,000 after purchasing an additional 30,476 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Concert Pharmaceuticals in the 2nd quarter valued at about $378,000. TIAA CREF Investment Management LLC lifted its holdings in Concert Pharmaceuticals by 18.0% in the 1st quarter. TIAA CREF Investment Management LLC now owns 125,183 shares of the biotechnology company’s stock valued at $2,136,000 after purchasing an additional 19,078 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Concert Pharmaceuticals by 143.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock valued at $552,000 after purchasing an additional 19,046 shares in the last quarter. Institutional investors own 62.51% of the company’s stock.
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Concert Pharmaceuticals, Inc. (NASDAQ CNCE) opened at $18.66 on Wednesday. Concert Pharmaceuticals, Inc. has a 1-year low of $7.11 and a 1-year high of $19.31.
In other news, insider Ryan Lynch sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at $137,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Value Fund L. P. Biotechnology purchased 331,916 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were bought at an average cost of $15.84 per share, with a total value of $5,257,549.44. The disclosure for this purchase can be found here. 10.10% of the stock is owned by company insiders.
CNCE has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Concert Pharmaceuticals in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, August 29th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. Finally, Mizuho began coverage on shares of Concert Pharmaceuticals in a report on Thursday, October 26th. They set a “buy” rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.00.
Concert Pharmaceuticals Company Profile
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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