Why is Concord Biotech falling/rising?

As of 05-Sep, Concord Biotech Ltd is experiencing a decline in its stock price, currently at 1,653.85, which represents a decrease of 12.65 or 0.76%. The stock has underperformed its sector by 0.69% today and has been on a consecutive fall for the last four days, resulting in a total decline of 2.32% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The company's recent financial performance has raised concerns, particularly with a significant drop in PAT for the quarter, which fell by 52.6% compared to the previous four-quarter average, and the lowest net sales recorded at Rs 203.99 crore. Despite having a high management efficiency with a ROE of 19.76% and a low debt-to-equity ratio, the stock's valuation appears expensive relative to its peers, with a Price to Book Value of 9.6 and a high PEG ratio of 3.6.
In the broader market context, Concord Biotech's performance has lagged behind the Sensex, which has gained 1.13% over the past week, while Concord Biotech has declined by 1.53%. The stock has also underperformed the benchmark over the past month and year-to-date, with returns of -2.71% and -25.17%, respectively. Furthermore, there has been a noticeable decrease in institutional investor participation, with a reduction of 0.54% in their stakes over the previous quarter, which may reflect a lack of confidence in the stock's future prospects. Overall, the combination of poor short-term performance, declining investor interest, and disappointing financial results contributes to the downward pressure on Concord Biotech's stock price.