Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 6.2% Following Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price fell 6.2% on Monday following insider selling activity. The stock traded as low as $15.53 and last traded at $15.56. 317,849 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 393,548 shares. The stock had previously closed at $16.58.

Specifically, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $16.53, for a total value of $909,150.00. Following the sale, the chief executive officer now directly owns 721,924 shares of the company’s stock, valued at approximately $11,933,403.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. B. Riley initiated coverage on shares of Centessa Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $33.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $11.00 to $26.00 in a report on Thursday. Finally, Guggenheim upped their price target on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.17.

Centessa Pharmaceuticals Trading Down 6.2 %

The firm has a fifty day moving average of $12.41 and a 200-day moving average of $10.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 13.29 and a current ratio of 13.29. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -10.94 and a beta of 1.44.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results 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). As a group, equities analysts predict that Centessa Pharmaceuticals plc will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Centessa Pharmaceuticals in the 4th quarter valued at approximately $48,000. Sandia Investment Management LP acquired a new stake in Centessa Pharmaceuticals in the second quarter valued at $90,000. Fred Alger Management LLC acquired a new position in Centessa Pharmaceuticals during the 2nd quarter worth $99,000. EntryPoint Capital LLC bought a new stake in shares of Centessa Pharmaceuticals in the 1st quarter worth about $109,000. Finally, Trexquant Investment LP bought a new position in shares of Centessa Pharmaceuticals during the fourth quarter worth about $114,000. 82.01% of the stock is owned by institutional investors and hedge funds.

Centessa Pharmaceuticals Company Profile

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.