Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 4.5% on Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares were down 4.5% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $17.38 and last traded at $17.38. Approximately 600,342 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 411,010 shares. The stock had previously closed at $18.19.

Specifically, CEO Saurabh Saha sold 55,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.89, for a total transaction of $928,950.00. Following the completion of the sale, the chief executive officer now owns 575,661 shares of the company’s stock, valued at $9,722,914.29. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saurabh Saha sold 1,671 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $18.24, for a total transaction of $30,479.04. Following the sale, the chief executive officer now directly owns 575,661 shares of the company’s stock, valued at $10,500,056.64. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

CNTA has been the topic of a number of recent research reports. Guggenheim boosted their price target on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. B. Riley initiated coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, September 19th. They set a “buy” rating and a $33.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Jefferies Financial Group boosted their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $11.00 to $26.00 in a research report on Thursday, September 19th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Down 6.3 %

The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -11.14 and a beta of 1.47. The firm’s fifty day simple moving average is $16.09 and its two-hundred day simple moving average is $12.40.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.05. Sell-side analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several large investors have recently made changes to their positions in CNTA. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Centessa Pharmaceuticals by 47.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock worth $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Centessa Pharmaceuticals by 103.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after acquiring an additional 1,509 shares during the last quarter. Quarry LP lifted its holdings in shares of Centessa Pharmaceuticals by 47.8% in the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after acquiring an additional 3,108 shares during the last quarter. Sandia Investment Management LP acquired a new position in shares of Centessa Pharmaceuticals in the 2nd quarter worth approximately $90,000. Finally, Fred Alger Management LLC acquired a new position in shares of Centessa Pharmaceuticals in the 2nd quarter worth approximately $99,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Centessa Pharmaceuticals Company Profile

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines for patients. Its products pipeline includes SerpinPC, an activated protein C inhibitor for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of narcolepsy and other sleep disorders.