Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 5% – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price traded down 5% on Tuesday . The company traded as low as $13.62 and last traded at $13.66. 420,945 shares were traded during mid-day trading, a decline of 23% from the average session volume of 548,982 shares. The stock had previously closed at $14.38.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler started coverage on Centessa Pharmaceuticals in a report on Monday. They set an “overweight” rating and a $38.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. TD Cowen assumed coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $27.71.

Centessa Pharmaceuticals Price Performance

The stock has a market capitalization of $1.74 billion, a PE ratio of -8.52 and a beta of 1.54. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average price is $16.46 and its two-hundred day moving average price is $16.43.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.04. On average, equities analysts predict that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Insider Activity

In related news, insider Gregory M. Weinhoff sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $16.34, for a total value of $163,400.00. Following the completion of the sale, the insider now directly owns 134,021 shares in the company, valued at approximately $2,189,903.14. The trade was a 6.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $15.77, for a total value of $867,350.00. Following the completion of the transaction, the chief executive officer now owns 429,398 shares in the company, valued at approximately $6,771,606.46. This trade represents a 11.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 260,168 shares of company stock worth $4,309,568 over the last three months. 11.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Centessa Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 57,257 shares of the company’s stock worth $959,000 after purchasing an additional 660 shares during the period. GAMMA Investing LLC raised its position in shares of Centessa Pharmaceuticals by 29.1% in the 4th quarter. GAMMA Investing LLC now owns 3,837 shares of the company’s stock valued at $64,000 after buying an additional 865 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Centessa Pharmaceuticals in the 4th quarter valued at approximately $31,000. Barclays PLC boosted its position in Centessa Pharmaceuticals by 1,414.9% during the 4th quarter. Barclays PLC now owns 5,302 shares of the company’s stock worth $89,000 after buying an additional 4,952 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Centessa Pharmaceuticals by 39.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,909 shares of the company’s stock valued at $317,000 after purchasing an additional 5,316 shares during the period. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.