Insider Selling: Centessa Pharmaceuticals plc (NASDAQ:CNTA) CEO Sells 175,000 Shares of Stock

Centessa Pharmaceuticals plc (NASDAQ:CNTA) CEO Saurabh Saha sold 175,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total value of $2,891,000.00. Following the completion of the sale, the chief executive officer now owns 776,924 shares in the company, valued at $12,834,784.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Saurabh Saha also recently made the following trade(s):

• On Thursday, August 22nd, Saurabh Saha sold 506 shares of Centessa Pharmaceuticals stock. The shares were sold at an average price of $12.23, for a total value of $6,188.38.
• On Tuesday, August 20th, Saurabh Saha sold 4,169 shares of Centessa Pharmaceuticals stock. The stock was sold at an average price of $12.32, for a total transaction of $51,362.08.

Centessa Pharmaceuticals Trading Up 12.5 %

Shares of NASDAQ:CNTA opened at $16.99 on Friday. The company has a 50-day simple moving average of $11.76 and a 200 day simple moving average of $10.48. The company has a market capitalization of $1.93 billion, a P/E ratio of -11.96 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 13.29 and a current ratio of 13.29. Centessa Pharmaceuticals plc has a 52-week low of $5.15 and a 52-week high of $17.59.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Sell-side analysts forecast that Centessa Pharmaceuticals plc will post -1.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Guggenheim increased their target price on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer restated an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Morgan Stanley lifted their target price on Centessa Pharmaceuticals from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, June 21st. BMO Capital Markets increased their price target on Centessa Pharmaceuticals from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Jefferies Financial Group boosted their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.60.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in shares of Centessa Pharmaceuticals by 34.1% during the 4th quarter. Franklin Resources Inc. now owns 1,115,817 shares of the company’s stock worth $8,882,000 after buying an additional 283,469 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in Centessa Pharmaceuticals by 12.9% in the 4th quarter. Platinum Investment Management Ltd. now owns 381,083 shares of the company’s stock valued at $3,033,000 after acquiring an additional 43,539 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Centessa Pharmaceuticals by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock worth $33,427,000 after acquiring an additional 418,615 shares during the last quarter. Octagon Capital Advisors LP boosted its holdings in shares of Centessa Pharmaceuticals by 333.2% during the fourth quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock worth $16,398,000 after acquiring an additional 1,584,500 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Centessa Pharmaceuticals in the first quarter valued at approximately $330,000. 82.01% of the stock is owned by institutional investors.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.