Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down on Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $15.81, but opened at $15.40. Centessa Pharmaceuticals shares last traded at $14.83, with a volume of 116,993 shares changing hands.

Specifically, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $16.34, for a total transaction of $163,400.00. Following the transaction, the insider now owns 134,021 shares of the company’s stock, valued at $2,189,903.14. The trade was a 6.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $16.69, for a total transaction of $917,950.00. Following the completion of the sale, the chief executive officer now directly owns 276,017 shares of the company’s stock, valued at approximately $4,606,723.73. This trade represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of brokerages have issued reports on CNTA. Guggenheim reiterated a “buy” rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday. TD Cowen began coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price target on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $26.00.

Centessa Pharmaceuticals Trading Down 0.2 %

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 stock’s 50 day moving average is $16.49 and its 200-day moving average is $16.41. The company has a market cap of $1.91 billion, a PE ratio of -9.48 and a beta of 1.54.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Monday, March 24th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.04. As a group, sell-side analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Centessa Pharmaceuticals by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company’s stock valued at $89,854,000 after buying an additional 685,371 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Centessa Pharmaceuticals by 22.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,119,027 shares of the company’s stock valued at $85,744,000 after acquiring an additional 924,027 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Centessa Pharmaceuticals by 279.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company’s stock worth $82,218,000 after purchasing an additional 3,614,623 shares during the period. Farallon Capital Management LLC grew its holdings in Centessa Pharmaceuticals by 24.3% during the 4th quarter. Farallon Capital Management LLC now owns 3,498,709 shares of the company’s stock valued at $58,603,000 after purchasing an additional 684,391 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Centessa Pharmaceuticals by 26.2% in the 4th quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company’s stock worth $57,396,000 after purchasing an additional 710,936 shares during the period. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

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.