Concert Pharmaceuticals Inc. [NASDAQ: CNCE] traded at a low on 06/02/22, posting a -12.69 loss after which it closed the day’ session at $4.68. The company report on June 1, 2022 that Concert Pharmaceuticals Announces Pricing of Public Offering.
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Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) today announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock at a public offering price of $4.75 per share. The gross proceeds to Concert, before deducting underwriting discounts and commissions and estimated offering expenses payable by Concert, are expected to be approximately $47.5 million. Concert has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
All shares in the offering are being sold by Concert. The offering is expected to close on or about June 6, 2022, subject to the satisfaction of customary closing conditions.
The results of the trading session contributed to over 8852365 shares changing hands. Over the past one week, the price volatility of Concert Pharmaceuticals Inc. stands at 15.28% while the volatility over the past one month is 12.58%.
The market cap for CNCE stock reached $145.17 million, with 36.69 million shares outstanding and 32.61 million shares in the current float. Compared to the average trading volume of 391.44K shares, CNCE reached a trading volume of 8852365 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Concert Pharmaceuticals Inc. [CNCE]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNCE shares is $13.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNCE stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Berenberg have made an estimate for Concert Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 16, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on March 30, 2020, representing the official price target for Concert Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $29 to $25, while H.C. Wainwright kept a Buy rating on CNCE stock.
The Average True Range (ATR) for Concert Pharmaceuticals Inc. is set at 0.68, with the Price to Sales ratio for CNCE stock in the period of the last 12 months amounting to 4.45. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 3.54.
How has CNCE stock performed recently?
Concert Pharmaceuticals Inc. [CNCE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by 0.00. With this latest performance, CNCE shares gained by 36.84% in over the last four-week period, additionally plugging by 37.65% over the last 6 months – not to mention a rise of 14.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNCE stock in for the last two-week period is set at 54.18, with the RSI for the last a single of trading hit 50.97, and the three-weeks RSI is set at 55.44 for Concert Pharmaceuticals Inc. [CNCE]. The present Moving Average for the last 50 days of trading for this stock 3.73, while it was recorded at 5.46 for the last single week of trading, and 3.39 for the last 200 days.
Concert Pharmaceuticals Inc. [CNCE]: Deeper insight into the fundamentals
Concert Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.60 and a Current Ratio set at 7.60.
Insider trade positions for Concert Pharmaceuticals Inc. [CNCE]
There are presently around $92 million, or 50.40% of CNCE stock, in the hands of institutional investors. The top three institutional holders of CNCE stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 3,033,603, which is approximately 0% of the company’s market cap and around 4.70% of the total institutional ownership; BVF INC/IL, holding 2,253,000 shares of the stock with an approximate value of $12.08 million in CNCE stocks shares; and PERCEPTIVE ADVISORS LLC, currently with $11.53 million in CNCE stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Concert Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 16 institutional holders increased their position in Concert Pharmaceuticals Inc. [NASDAQ:CNCE] by around 572,526 shares. Additionally, 32 investors decreased positions by around 1,500,138 shares, while 13 investors held positions by with 15,123,803 shares. The mentioned changes placed institutional holdings at 17,196,467 shares, according to the latest SEC report filing. CNCE stock had 9 new institutional investments in for a total of 480,248 shares, while 8 institutional investors sold positions of 217,330 shares during the same period.