Why is Concord Biotech falling/rising?

As of 16-Jul, Concord Biotech Ltd's stock price is currently at 1,835.20, reflecting a decline of 10.8 points or 0.59%. The stock has underperformed its sector by 0.32% today and has experienced a trend reversal after two consecutive days of gains. In the past week, the stock has increased by 0.87%, but over the past month, it has fallen by 12.38%. Despite having a strong long-term fundamental strength, indicated by an average Return on Equity (ROE) of 20.62% and healthy growth in operating profit, the stock's recent performance is hindered by a significant drop in delivery volume, which fell by 55.14% against the 5-day average. Additionally, while institutional investors have increased their stake, the stock's high valuation and a PEG ratio of 2.3 suggest that it may be perceived as expensive relative to its earnings growth.
Broader market context indicates that the Sensex has declined by 1.08% over the past week, contrasting with Concord Biotech's slight gain during the same period. However, the stock has underperformed the benchmark significantly over the past month, where the Sensex has risen by 1.02%. This underperformance, coupled with the stock's declining price and falling investor participation, suggests that market sentiment may be cautious, potentially driven by concerns over valuation and liquidity. Overall, while there are positive long-term fundamentals, the immediate market dynamics and stock-specific factors are contributing to the current downward price movement.