Why is Concord Biotech falling/rising?

As of 02-Sep, Concord Biotech Ltd is currently priced at 1,687.35, reflecting a decrease of 5.7 points or 0.34%. The stock has underperformed its sector today by 0.27% and has seen a trend reversal after two consecutive days of gains. Its performance over the past week shows a decline of 1.04%, and over the past month, it has dropped by 3.01%. The stock's recent financial results indicate a significant decline in profit after tax, which fell by 52.6% compared to the previous four-quarter average, and net sales were reported at their lowest level. Additionally, the stock is trading at a premium compared to its peers, with a high Price to Book Value ratio of 9.7, suggesting an expensive valuation despite a relatively high return on equity of 19.76%. The decrease in institutional investor participation, which has fallen by 0.54%, further indicates a lack of confidence in the stock's future performance.
In the broader market context, Concord Biotech's short-term performance has been weaker than the benchmark Sensex, which has declined by only 0.78% over the same week. The company's year-to-date performance is particularly concerning, with a drop of 23.65% compared to the Sensex's gain of 2.58%. This stark contrast highlights the challenges Concord Biotech faces in attracting investor interest, especially given the falling participation from institutional investors who typically have more resources to assess company fundamentals. Overall, the combination of poor financial results, high valuation, and declining investor confidence contributes to the stock's downward movement.