Meadow Creek Investment Management LLC Invests $412,000 in Concert Pharmaceuticals (CNCE)

Meadow Creek Investment Management LLC purchased a new position in Concert Pharmaceuticals (NASDAQ:CNCE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,004 shares of the biotechnology company’s stock, valued at approximately $412,000. Meadow Creek Investment Management LLC owned 0.08% of Concert Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Concert Pharmaceuticals by 57.2% in the 4th quarter. BlackRock Inc. now owns 1,786,223 shares of the biotechnology company’s stock valued at $46,210,000 after acquiring an additional 649,808 shares in the last quarter. Millennium Management LLC increased its stake in shares of Concert Pharmaceuticals by 225.8% in the 4th quarter. Millennium Management LLC now owns 725,885 shares of the biotechnology company’s stock valued at $18,779,000 after acquiring an additional 503,066 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Concert Pharmaceuticals in the 4th quarter valued at $7,713,000. Bogle Investment Management L P DE bought a new stake in shares of Concert Pharmaceuticals in the 4th quarter valued at $7,554,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Concert Pharmaceuticals by 55.2% in the 4th quarter. Bank of New York Mellon Corp now owns 198,192 shares of the biotechnology company’s stock valued at $5,127,000 after acquiring an additional 70,468 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.

Shares of CNCE stock opened at $20.47 on Monday. Concert Pharmaceuticals has a 12 month low of $11.88 and a 12 month high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Thursday, May 3rd. The biotechnology company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.39. The business had revenue of $10.48 million during the quarter. Concert Pharmaceuticals had a net margin of 67.71% and a negative return on equity of 23.57%. equities analysts forecast that Concert Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. HC Wainwright boosted their price target on shares of Concert Pharmaceuticals from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. ValuEngine upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Mizuho restated a “buy” rating and set a $27.00 price target on shares of Concert Pharmaceuticals in a research note on Tuesday, April 10th. Finally, TheStreet lowered shares of Concert Pharmaceuticals from a “b-” rating to a “c” rating in a research note on Thursday, March 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.50.

In other Concert Pharmaceuticals news, insider James V. Cassella sold 10,582 shares of Concert Pharmaceuticals stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $20.18, for a total transaction of $213,544.76. Following the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $605,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.40% of the company’s stock.

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 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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