Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 3.3%

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) dropped 3.3% during trading on Wednesday . The stock traded as low as $16.56 and last traded at $16.63. Approximately 253,999 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 401,113 shares. The stock had previously closed at $17.20.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley raised shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. Oppenheimer restated an “outperform” rating and issued a $14.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Jefferies Financial Group increased their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Guggenheim boosted their price objective on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, B. Riley started coverage on Centessa Pharmaceuticals in a research report on Thursday, September 19th. They set a “buy” rating and a $33.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $25.17.

Centessa Pharmaceuticals Trading Down 3.3 %

The firm has a 50-day simple moving average of $13.29 and a 200-day simple moving average of $10.93. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.67 billion, a PE ratio of -12.11 and a beta of 1.44.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Equities analysts forecast that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current year.

Insider Activity

In related news, insider Gregory M. Weinhoff sold 12,198 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total value of $148,449.66. Following the transaction, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 4,169 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction of $51,362.08. Following the transaction, the chief executive officer now directly owns 827,755 shares of the company’s stock, valued at $10,197,941.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory M. Weinhoff sold 12,198 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total transaction of $148,449.66. Following the completion of the sale, the insider now owns 241,171 shares of the company’s stock, valued at $2,935,051.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,492 shares of company stock worth $4,641,902. 11.59% of the stock is currently owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Centessa Pharmaceuticals during the 4th quarter worth approximately $48,000. EntryPoint Capital LLC bought a new stake in Centessa Pharmaceuticals during the 1st quarter valued at $109,000. Sandia Investment Management LP purchased a new position in shares of Centessa Pharmaceuticals in the second quarter valued at about $90,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Centessa Pharmaceuticals by 69.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 10,817 shares of the company’s stock valued at $122,000 after acquiring an additional 4,423 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new stake in shares of Centessa Pharmaceuticals during the second quarter worth about $99,000. 82.01% of the stock is owned by institutional investors.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.