Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 3.3%

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price dropped 3.3% during mid-day trading on Wednesday . The stock traded as low as $16.56 and last traded at $16.63. Approximately 253,999 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 401,113 shares. The stock had previously closed at $17.20.

Analyst Ratings Changes

Several brokerages recently weighed in on CNTA. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. Jefferies Financial Group increased their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. B. Riley initiated coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, September 19th. They set a “buy” rating and a $33.00 price objective on the stock. BMO Capital Markets raised their target price on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, Guggenheim boosted their price target on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $25.17.

Centessa Pharmaceuticals Stock Performance

The business’s fifty day moving average is $13.29 and its two-hundred day moving average is $10.93. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.67 billion, a PE ratio of -12.11 and a beta of 1.44.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Equities research analysts predict that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current year.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 4,169 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction of $51,362.08. Following the completion of the sale, the chief executive officer now directly owns 827,755 shares in the company, valued at approximately $10,197,941.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Saurabh Saha sold 4,169 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction of $51,362.08. Following the completion of the sale, the chief executive officer now owns 827,755 shares of the company’s stock, valued at approximately $10,197,941.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gregory M. Weinhoff sold 12,198 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the completion of the transaction, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,492 shares of company stock worth $4,641,902. 11.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC lifted its position in shares of Centessa Pharmaceuticals by 59.2% in the second quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock valued at $43,168,000 after acquiring an additional 1,778,515 shares in the last quarter. Perceptive Advisors LLC grew its holdings in Centessa Pharmaceuticals by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after buying an additional 850,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Centessa Pharmaceuticals by 16.5% in 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 buying an additional 418,615 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Centessa Pharmaceuticals by 89.5% in the second quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after buying an additional 987,997 shares in the last quarter. Finally, Octagon Capital Advisors LP grew its stake in Centessa Pharmaceuticals by 333.2% during the fourth quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock valued at $16,398,000 after acquiring an additional 1,584,500 shares in the last quarter. 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 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.