Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 4.5% – Time to Sell?

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares traded down 4.5% on Friday . The stock traded as low as $17.38 and last traded at $17.38. 600,342 shares traded hands during trading, an increase of 46% from the average session volume of 411,010 shares. The stock had previously closed at $18.19.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 15th. BMO Capital Markets raised their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $11.00 to $26.00 in a research report on Thursday, September 19th. Finally, Jefferies Financial Group upped their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $25.83.

Centessa Pharmaceuticals Stock Performance

The business has a 50-day simple moving average of $16.09 and a 200 day simple moving average of $12.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The firm has a market cap of $1.93 billion, a PE ratio of -11.89 and a beta of 1.47.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. Equities research analysts forecast that Centessa Pharmaceuticals plc will post -1.62 EPS for the current year.

Insider Activity at Centessa Pharmaceuticals

In other news, insider Gregory M. Weinhoff sold 25,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $15.00, for a total value of $375,000.00. Following the transaction, the insider now owns 223,369 shares of the company’s stock, valued at approximately $3,350,535. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $16.53, for a total transaction of $909,150.00. Following the transaction, the chief executive officer now directly owns 721,924 shares of the company’s stock, valued at $11,933,403.72. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 308,158 shares of company stock worth $5,007,043. 11.59% of the stock is owned by corporate insiders.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC bought a new stake in shares of Centessa Pharmaceuticals in the first quarter worth about $33,923,000. Farallon Capital Management LLC increased its stake in Centessa Pharmaceuticals by 438.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock worth $18,024,000 after acquiring an additional 1,625,000 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Centessa Pharmaceuticals during the 3rd quarter worth approximately $20,698,000. Driehaus Capital Management LLC boosted its position in shares of Centessa Pharmaceuticals by 89.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock valued at $18,891,000 after acquiring an additional 987,997 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Centessa Pharmaceuticals by 54.1% in the third quarter. Point72 Asset Management L.P. now owns 2,715,663 shares of the company’s stock valued at $43,423,000 after purchasing an additional 953,659 shares in the last quarter. Hedge funds and other institutional investors 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.