Why is Concord Biotech falling/rising?

As of 12-Aug, Concord Biotech Ltd's stock price is currently at 1,639.15, reflecting an increase of 32.9 points or 2.05%. The stock has shown a positive trend recently, gaining for the last two days with a total return of 2.41% during this period. Today's performance indicates that it has outperformed its sector by 1.67%. However, despite this recent uptick, the stock has experienced a decline of 8.68% over the past month and a significant drop of 25.83% year-to-date. The company boasts a high management efficiency with a return on equity (ROE) of 20.62% and a low debt-to-equity ratio, yet it faces challenges such as a substantial decrease in quarterly profit after tax (PAT) and net sales, which are at their lowest levels. Additionally, the stock's valuation appears expensive with a price-to-book value of 10.8, and institutional investor participation has decreased.
Broader market context shows that while Concord Biotech has generated an 8.54% return over the past year, the broader market, represented by the Sensex, has only returned 0.74% during the same period. In the short term, the stock has outperformed the benchmark, which has seen a decline of 0.59% over the past week. However, the overall negative sentiment surrounding the stock, driven by poor long-term growth prospects and falling institutional interest, may overshadow its recent gains. The stock's liquidity remains adequate for trading, but the combination of declining sales and profits could pose risks to sustained upward momentum.