Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 3.4% – Here’s What Happened

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price traded down 3.4% during mid-day trading on Friday . The stock traded as low as $15.88 and last traded at $15.73. 16,371 shares were traded during trading, a decline of 97% from the average session volume of 469,299 shares. The stock had previously closed at $16.28.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNTA. TD Cowen began coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. Guggenheim upped their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven equities research 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 Up 0.8 %

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 business’s 50 day moving average price is $16.78 and its 200-day moving average price is $14.80. The firm has a market capitalization of $2.16 billion, a PE ratio of -10.72 and a beta of 1.53.

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

Insider Transactions at Centessa Pharmaceuticals

In other news, insider Gregory M. Weinhoff sold 10,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $17.66, for a total transaction of $176,600.00. Following the completion of the transaction, the insider now directly owns 183,266 shares of the company’s stock, valued at approximately $3,236,477.56. The trade was a 5.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Iqbal J. Hussain sold 77,705 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $16.39, for a total transaction of $1,273,584.95. Following the completion of the sale, the general counsel now owns 125,785 shares in the company, valued at $2,061,616.15. The trade was a 38.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 392,484 shares of company stock valued at $6,723,523. 11.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Centessa Pharmaceuticals by 47.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC boosted 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 valued at $48,000 after buying an additional 1,509 shares in the last quarter. Quarry LP grew its position in shares of Centessa Pharmaceuticals by 47.8% in the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after buying an additional 3,108 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of Centessa Pharmaceuticals during the second quarter worth about $99,000. Finally, Walleye Capital LLC purchased a new stake in Centessa Pharmaceuticals in the third quarter valued at approximately $187,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

About Centessa Pharmaceuticals

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.