Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $16.87, but opened at $16.50. Centessa Pharmaceuticals shares last traded at $17.08, with a volume of 356,321 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNTA. TD Cowen began coverage on Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating and issued a $27.00 price objective on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. Finally, Guggenheim reissued a “buy” rating on shares of Centessa Pharmaceuticals in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.00.

Centessa Pharmaceuticals Stock Performance

The company has a 50-day simple moving average of $16.45 and a two-hundred day simple moving average of $16.29. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.26 billion, a PE ratio of -11.20 and a beta of 1.54.

Insider Buying and Selling 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 value of $320,634.00. Following the sale, the chief technology officer now directly owns 147,615 shares in the company, valued at $2,657,070. The trade was a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gregory M. Weinhoff sold 10,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.04, for a total value of $170,400.00. Following the completion of the sale, the insider now owns 183,266 shares in the company, valued at approximately $3,122,852.64. The trade was a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,310 shares of company stock worth $5,917,155 over the last ninety days. 11.59% of the stock is currently owned by company insiders.

Institutional Trading of Centessa Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Centessa Pharmaceuticals during the 4th quarter valued at $31,000. GAMMA Investing LLC raised its stake in shares of Centessa Pharmaceuticals by 29.1% during the 4th quarter. GAMMA Investing LLC now owns 3,837 shares of the company’s stock valued at $64,000 after purchasing an additional 865 shares during the period. Barclays PLC raised its stake in shares of Centessa Pharmaceuticals by 1,414.9% during the 4th quarter. Barclays PLC now owns 5,302 shares of the company’s stock valued at $89,000 after purchasing an additional 4,952 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Centessa Pharmaceuticals during the 4th quarter valued at $162,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Centessa Pharmaceuticals during the 4th quarter valued at $171,000. 82.01% of the stock is currently 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.