Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 3.2% – Here’s Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price dropped 3.2% on Tuesday . The stock traded as low as $15.71 and last traded at $15.82. Approximately 53,851 shares traded hands during trading, a decline of 87% from the average daily volume of 429,427 shares. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

CNTA has been the subject of a number of research analyst reports. Guggenheim increased their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 15th. B. Riley assumed coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 target price for the company. BMO Capital Markets raised their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Jefferies Financial Group lifted their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $11.00 to $26.00 in a report on Thursday, September 19th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Centessa Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Stock Performance

The stock’s 50-day simple moving average is $16.80 and its two-hundred day simple moving average is $14.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -10.95 and a beta of 1.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. Analysts forecast that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, CTO Tia L. Bush sold 17,813 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $18.00, for a total value of $320,634.00. Following the completion of the sale, the chief technology officer now owns 147,615 shares in the company, valued at $2,657,070. This trade represents a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Saurabh Saha sold 2,592 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.32, for a total transaction of $39,709.44. Following the sale, the chief executive officer now owns 630,661 shares of the company’s stock, valued at approximately $9,661,726.52. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 368,023 shares of company stock worth $6,335,574 over the last ninety days. Company insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc raised its holdings in shares of Centessa Pharmaceuticals by 40.5% in the second quarter. TD Asset Management Inc now owns 321,168 shares of the company’s stock valued at $2,900,000 after purchasing an additional 92,524 shares during the last quarter. American Century Companies Inc. boosted its position in Centessa Pharmaceuticals by 1.3% during the second quarter. American Century Companies Inc. now owns 935,151 shares of the company’s stock worth $8,444,000 after purchasing an additional 12,031 shares during the period. XTX Topco Ltd bought a new position in shares of Centessa Pharmaceuticals in the second quarter valued at approximately $148,000. Farallon Capital Management LLC boosted its position in shares of Centessa Pharmaceuticals by 438.0% in the second quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock valued at $18,024,000 after acquiring an additional 1,625,000 shares during the period. Finally, First Light Asset Management LLC lifted its position in Centessa Pharmaceuticals by 59.2% during 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 purchasing an additional 1,778,515 shares during the last quarter. Institutional investors and hedge funds 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.