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

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) were down 3.2% during trading on Tuesday . The company traded as low as $15.71 and last traded at $15.82. Approximately 53,851 shares were traded 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

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Guggenheim upped their price target on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group increased their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. B. Riley initiated coverage on Centessa Pharmaceuticals in a research report on Thursday, September 19th. They set a “buy” rating and a $33.00 target price for the company. Finally, Morgan Stanley upgraded 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 research report on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Performance

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 $2.21 billion, a price-to-earnings ratio of -10.95 and a beta of 1.52. The firm has a fifty day simple moving average of $16.80 and a two-hundred day simple moving average of $14.03.

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. On average, analysts expect that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, CTO Tia L. Bush sold 17,813 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $18.00, for a total transaction of $320,634.00. Following the transaction, the chief technology officer now owns 147,615 shares of the company’s stock, valued at approximately $2,657,070. The trade was a 10.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Saurabh Saha sold 22,205 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $15.80, for a total value of $350,839.00. Following the transaction, the chief executive officer now directly owns 663,456 shares in the company, valued at $10,482,604.80. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 368,023 shares of company stock worth $6,335,574. 11.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of CNTA. First Light Asset Management LLC increased its holdings in Centessa Pharmaceuticals by 59.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock worth $43,168,000 after purchasing an additional 1,778,515 shares during the period. Perceptive Advisors LLC boosted its position in shares of Centessa Pharmaceuticals by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after purchasing an additional 850,000 shares during the period. FMR LLC boosted its position in shares of Centessa Pharmaceuticals by 4.6% in the 3rd quarter. FMR LLC now owns 2,916,494 shares of the company’s stock valued at $46,635,000 after purchasing an additional 129,300 shares during the period. Point72 Asset Management L.P. lifted its position in Centessa Pharmaceuticals by 54.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,715,663 shares of the company’s stock worth $43,423,000 after acquiring an additional 953,659 shares during the period. Finally, Franklin Resources Inc. lifted its position in Centessa Pharmaceuticals by 99.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock worth $38,360,000 after acquiring an additional 1,145,823 shares during the period. Hedge funds and other institutional investors own 82.01% of the company’s stock.

About Centessa Pharmaceuticals

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.