Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – Here’s Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA) gapped down prior to trading on Wednesday . The stock had previously closed at $15.81, but opened at $15.40. Centessa Pharmaceuticals shares last traded at $14.83, with a volume of 116,993 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNTA shares. Guggenheim restated a “buy” rating and issued a $28.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $27.00 price target on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Finally, TD Cowen assumed coverage on shares of Centessa Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $26.00.

Centessa Pharmaceuticals Stock Performance

The stock’s 50-day simple moving average is $16.51 and its 200 day simple moving average is $16.43. The company has a market capitalization of $1.93 billion, a PE ratio of -9.58 and a beta of 1.54. 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 posted its earnings results on Monday, March 24th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.04. As a group, research analysts expect that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In other news, General Counsel Iqbal J. Hussain sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $15.29, for a total value of $91,740.00. Following the completion of the transaction, the general counsel now owns 118,265 shares in the company, valued at approximately $1,808,271.85. This represents a 4.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gregory M. Weinhoff sold 10,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.04, for a total transaction of $170,400.00. Following the completion of the sale, the insider now directly owns 183,266 shares of the company’s stock, valued at approximately $3,122,852.64. This trade represents a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,168 shares of company stock valued at $4,316,568. Corporate insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Centessa Pharmaceuticals in the 4th quarter valued at about $31,000. GAMMA Investing LLC boosted its holdings in shares of Centessa Pharmaceuticals by 29.1% in the fourth quarter. GAMMA Investing LLC now owns 3,837 shares of the company’s stock valued at $64,000 after acquiring an additional 865 shares during the period. Barclays PLC grew its position in shares of Centessa Pharmaceuticals by 1,414.9% during the fourth quarter. Barclays PLC now owns 5,302 shares of the company’s stock worth $89,000 after acquiring an additional 4,952 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Centessa Pharmaceuticals in the 4th quarter valued at $162,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Centessa Pharmaceuticals in the 4th quarter valued at $171,000. Hedge funds and other institutional investors 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.