The stock of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) is now priced at $10.19 and the shares are -0.38 points down or -3.6% lower compared to its previous closing price of $10.57. The stock had 102522 contracts set over the past session. CNCE shares’ daily volume is compared to its average trading volume at 142887 shares. However, it has a float of 24.36 million and although its performance was 0.09% over the week, it’s one to watch. CNCE share price recently placing at $10.35 to $10.76. However, some brokerage firms have priced the stock below the average, including one that has called $18.
The shorts are climbing into the Concert Pharmaceuticals, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the CNCE shares have risen. Short interest in the stock represents just 3.15% of its float, but the volume has raised by 165619. The volume of shorted shares rised to 766166 from 600547 shares over the last two weeks. The average intraday trading volume has been 143753 shares, which means that days to cover moved to roughly 5.329739.
In the last trading session, Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) dropped by -$0.06 over the week and gained $0.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.09. The stock recorded its established 52-week high on 01/22/20.
Since 10/01/19, the stock has traded to a low of $5.36 at 90.11%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Concert Pharmaceuticals, Inc.’s two-week RSI is 52.31. This suggests that the stock is neutral at the moment and that CNCE shares’ price movement remains stable. The stochastic readings are equally revealing at 52.9% meaning the CNCE share price is currently in neutral territory.
The technical chart shows that the CNCE stock will likely settle at between $10.77 and $10.97 per share. However, if the stock dips below $10.36, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.15.
Currently, the stock is trading in the green of MACD, with a reading of 0.15. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CNCE a rating of Buy in their intiating review released on March 30. H.C. Wainwright analysts see the stock as a Buy, but they also dropped the share’s target price from $29 to $25 in a flash note released to investors on October 03. SunTrust analysts see the stock as Buy when the analysts initiated the share price coverage on June 24, placing it at $30.
The average rating for the CNCE equity is 1.88 and is currently gathering a bullish momentum. Of 8 analysts tracking Concert Pharmaceuticals, Inc. polled by Reuters, 1 rated CNCE as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.