Why is Concord Biotech falling/rising?

As of 15-Oct, Concord Biotech Ltd's stock price is currently at 1,509.70, reflecting a decrease of 6.05 points or 0.4%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 5.67% 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 delivery volume has also significantly decreased by 51.26% compared to the 5-day average, suggesting a lack of investor interest. Financially, the company has reported poor quarterly performance, with a substantial drop in profit before tax and net sales, contributing to a negative sentiment around the stock. Despite having a high return on equity and low debt-to-equity ratio, the overall outlook remains bleak due to its poor long-term growth prospects and high valuation metrics.
In the broader market context, Concord Biotech's performance has been notably weaker than the benchmark, with a 1-week return of -6.05% compared to the Sensex's gain of 1.02%. Over the past year, the stock has generated a return of -22.09%, while the Sensex has increased by 0.96%. This underperformance is further highlighted by the company's inability to keep pace with broader market trends, as it has lagged behind both the BSE500 and the Sensex over various time frames. The combination of declining investor participation, poor quarterly results, and a lack of positive momentum in the market contributes to the stock's downward trajectory.