Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 3.8% – Here’s What Happened

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price traded down 3.8% during mid-day trading on Tuesday . The company traded as low as $16.86 and last traded at $16.86. 60,408 shares traded hands during trading, a decline of 86% from the average session volume of 432,558 shares. The stock had previously closed at $17.53.

Analyst Upgrades and Downgrades

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

Centessa Pharmaceuticals Stock Performance

The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -11.05 and a beta of 1.52. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $16.69 and a 200-day simple moving average of $13.78.

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

Insider Buying and Selling at Centessa Pharmaceuticals

In related news, CTO Tia L. Bush sold 17,813 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was 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 approximately $2,657,070. This represents a 10.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Saurabh Saha sold 87,496 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $18.46, for a total value of $1,615,176.16. Following the completion of the transaction, the chief executive officer now directly owns 575,661 shares in the company, valued at $10,626,702.06. The trade was a 13.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 358,023 shares of company stock worth $6,165,174. Company insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after purchasing an additional 826 shares during the period. GAMMA Investing LLC grew its holdings in shares of Centessa Pharmaceuticals by 103.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock valued at $48,000 after buying an additional 1,509 shares during the period. Quarry LP raised its holdings in Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after buying an additional 3,108 shares during the period. Sandia Investment Management LP acquired a new stake in Centessa Pharmaceuticals during the 2nd quarter worth approximately $90,000. Finally, Fred Alger Management LLC bought a new position in Centessa Pharmaceuticals in the second quarter valued at approximately $99,000. 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 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.