Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 3.8% – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price fell 3.8% during trading on Tuesday . The stock traded as low as $16.86 and last traded at $16.86. 60,408 shares were traded during mid-day trading, a decline of 86% from the average session volume of 432,558 shares. The stock had previously closed at $17.53.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CNTA. BMO Capital Markets upped their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Guggenheim upped their price target on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group lifted their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. B. Riley initiated coverage on Centessa Pharmaceuticals in a research report on Thursday, September 19th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Down 4.9 %

The company’s 50 day simple moving average is $16.66 and its 200-day simple moving average is $13.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. The firm has a market capitalization of $2.20 billion, a PE ratio of -10.90 and a beta of 1.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. On average, analysts forecast that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, insider Gregory M. Weinhoff sold 16,619 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $15.69, for a total value of $260,752.11. Following the completion of the transaction, the insider now directly owns 206,750 shares in the company, valued at approximately $3,243,907.50. This represents a 7.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saurabh Saha sold 22,205 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $15.80, for a total value of $350,839.00. Following the transaction, the chief executive officer now directly owns 663,456 shares in the company, valued at approximately $10,482,604.80. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,642 shares of company stock worth $6,425,926 over the last three months. 11.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in Centessa Pharmaceuticals in the 3rd quarter worth $2,834,000. Nantahala Capital Management LLC bought a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $4,064,000. Wellington Management Group LLP purchased a new stake in Centessa Pharmaceuticals during the 3rd quarter valued at about $1,609,000. Ally Bridge Group NY LLC bought a new position in Centessa Pharmaceuticals during the 3rd quarter worth approximately $4,951,000. Finally, Driehaus Capital Management LLC increased its stake in Centessa Pharmaceuticals by 89.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after purchasing an additional 987,997 shares during the period. 82.01% of the stock is currently owned by institutional investors.

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.