Why is Concord Biotech falling/rising?

As of 04-Jul, Concord Biotech Ltd is experiencing a decline in its stock price, currently at 1,739.60, which reflects a decrease of 12.15 or 0.69%. The stock has underperformed its sector by 1.2% today and has been on a consecutive downward trend for the last four days, resulting in a total decline of 5.18% during this period. Over the past week, the stock has decreased by 4.60%, and year-to-date, it has fallen by 21.29%, contrasting with a 1.54% increase over the past year. While the stock is trading above its 50-day and 100-day moving averages, it remains below its 5-day, 20-day, and 200-day moving averages. Despite these challenges, there has been a notable increase in investor participation, with delivery volume rising by 26.22% against the 5-day average, indicating some interest in the stock.
In the broader market context, Concord Biotech's recent performance contrasts sharply with the Sensex, which has gained 6.77% year-to-date and 3.01% over the past month. This divergence highlights the stock's struggles despite its strong long-term fundamentals, such as a solid average return on equity of 20.62% and healthy operating profit growth. However, the stock is perceived as very expensive with a high Price to Book Value ratio, and its recent performance does not reflect the positive profit growth of 22% over the past year. Institutional investors have increased their stake, suggesting confidence in the company's fundamentals, but the stock's current valuation and recent price movements indicate a cautious sentiment among investors.