Why is Concord Biotech falling/rising?

As of 03-Jul, Concord Biotech Ltd is experiencing a decline in its stock price, currently at 1,751.75, which reflects a decrease of 5.6 or 0.32%. The stock has underperformed its sector by 0.8% today and has been on a downward trend for the last three days, resulting in a total decline of 4.51% during this period. Over the past week, the stock has fallen by 2.45%, and year-to-date, it has decreased by 20.74%, contrasting with a 6.53% increase in the benchmark index. Although the stock is trading higher than its 50-day and 100-day moving averages, it is lower than its 5-day, 20-day, and 200-day moving averages. Additionally, there has been a notable drop in investor participation, with delivery volume decreasing by 17.23% compared to the 5-day average.
In the broader market context, while Concord Biotech's short-term performance has been negative, the benchmark Sensex has shown resilience with a 3.10% increase over the past month. The company does have strong long-term fundamentals, evidenced by a healthy average return on equity of 20.62% and significant growth in operating profit. However, the stock is perceived as expensive with a high price-to-book value and a PEG ratio of 2.2, which may deter some investors. Despite an increase in institutional investor participation, the overall sentiment appears to be cautious, contributing to the stock's recent decline.