Concert Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical company that develops novel small molecule drugs for the treatment of autoimmune diseases. The company's lead product candidate is CTP-543, which is in Phase III clinical trial for the treatment of alopecia areata, a serious autoimmune dermatological condition. It has strategic collaborations with Avanir Pharmaceuticals, Inc.; Jazz Pharmaceuticals, Inc.; Cipla Technologies; and Processa Pharmaceuticals. The company was incorporated in 2006 and is headquartered in Lexington, Massachusetts.
Concert Pharmaceuticals Stock Performance
Shares of NASDAQ:CNCE traded down $0.20 during midday trading on Tuesday, hitting $6.72. 585,838 shares of the company's stock traded hands, compared to its average volume of 454,784. The firm has a fifty day moving average of $5.10 and a 200 day moving average of $4.08. Concert Pharmaceuticals has a 1 year low of $2.57 and a 1 year high of $7.37. The stock has a market capitalization of $244.13 million, a price-to-earnings ratio of -1.97 and a beta of 0.69.
Analyst Ratings Changes
Separately, StockNews.com began coverage on shares of Concert Pharmaceuticals in a research note on Wednesday, June 15th. They set a "hold" rating for the company.
Insider Activity at Concert Pharmaceuticals
In other Concert Pharmaceuticals news, Director Heek Christi Van purchased 10,526 shares of the firm's stock in a transaction on Monday, June 6th. The shares were acquired at an average cost of $4.75 per share, for a total transaction of $49,998.50. Following the completion of the transaction, the director now owns 25,651 shares of the company's stock, valued at $121,842.25. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.80% of the stock is currently owned by company insiders.