Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 3.8% – Here’s What Happened

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

Wall Street Analyst Weigh In

CNTA has been the subject of several research reports. BMO Capital Markets increased their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. B. Riley began coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a “buy” rating and a $33.00 target price on the stock. 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 report on Wednesday, September 11th. Guggenheim increased their target price on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Morgan Stanley upgraded shares of 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 note on Thursday, September 19th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Trading Down 4.9 %

The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -10.90 and a beta of 1.52. The business has a fifty day simple moving average of $16.66 and a 200 day simple moving average of $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.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. As a group, research analysts expect that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 16,619 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $15.69, for a total transaction of $260,752.11. Following the sale, the insider now owns 206,750 shares of the company’s stock, valued at approximately $3,243,907.50. This represents a 7.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Iqbal J. Hussain sold 77,705 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $16.39, for a total transaction of $1,273,584.95. Following the transaction, the general counsel now directly owns 125,785 shares in the company, valued at approximately $2,061,616.15. This represents a 38.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 374,642 shares of company stock valued at $6,425,926. 11.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. HighMark Wealth Management LLC bought a new position in shares of Centessa Pharmaceuticals in the second quarter valued at approximately $840,000. TD Asset Management Inc grew its position in Centessa Pharmaceuticals by 40.5% in the 2nd quarter. TD Asset Management Inc now owns 321,168 shares of the company’s stock worth $2,900,000 after purchasing an additional 92,524 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Centessa Pharmaceuticals by 1.3% during the 2nd quarter. American Century Companies Inc. now owns 935,151 shares of the company’s stock worth $8,444,000 after buying an additional 12,031 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Centessa Pharmaceuticals in the 2nd quarter worth approximately $148,000. Finally, Farallon Capital Management LLC grew its holdings in shares of Centessa Pharmaceuticals by 438.0% in the second quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock valued at $18,024,000 after acquiring an additional 1,625,000 shares in the last quarter. Institutional investors and hedge funds own 82.01% of the company’s stock.

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.