In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Concert Pharmaceuticals Inc. (NYSE:CNCE) reported that Great Point Partners has picked up 2,101,301 of common stock as of 2017-03-16.
The acquisition brings the aggregate amount owned by Great Point Partners to a total of 2,101,301 representing a 9.41% stake in the company.
For those not familiar with the company, 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 segment. It has clinical candidates under development, including AVP-786, CTP-656, CTP-730 and JZP-386. The Company’s deuterated chemical entity platform (DCE Platform) enables it to identify compounds for deuteration and to design, evaluate, develop and manufacture deuterated compounds. The Company is utilizing its DCE Platform to discover and develop product candidates for a range of indications. The Company’s product candidate, CTP-656, is a next generation potentiator that the Company is initially developing for the treatment of cystic fibrosis in patients having gating mutations, including the G551D mutation. AVP-786 is a combination of a deuterated dextromethorphan analog and a low dose of quinidine.
A glance at Concert Pharmaceuticals Inc. (NYSE:CNCE)’s key stats reveals a current market capitalization of 357.71 Million based on 22.33 Million shares outstanding and a price at last close of $16.19 share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-10, Tung picked up 19,610 at a purchase price of $10.55. This brings their total holding to 538,965 as of the date of the filing.
On the sell side, the most recent transaction saw Hutt unload 22,123 shares at a sale price of $9.81. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Concert Pharmaceuticals Inc. (NYSE:CNCE) as things move forward to see if its progress aligns with these transactions.
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