Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 6.5% – Here’s Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price dropped 6.5% on Wednesday . The company traded as low as $10.05 and last traded at $10.02. Approximately 98,873 shares traded hands during trading, a decline of 83% from the average daily volume of 575,044 shares. The stock had previously closed at $10.71.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CNTA shares. TD Cowen started coverage on Centessa Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $27.00 price target on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. Guggenheim reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Centessa Pharmaceuticals in a research report on Wednesday, March 26th. Finally, Piper Sandler began coverage on shares of Centessa Pharmaceuticals in a research report on Monday, March 31st. They set an “overweight” rating and a $38.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Centessa Pharmaceuticals currently has an average rating of “Buy” and an average target price of $27.71.

Centessa Pharmaceuticals Price Performance

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 $1.54 billion, a PE ratio of -7.56 and a beta of 1.53. The stock has a 50 day moving average price of $15.51 and a two-hundred day moving average price of $16.14.

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

Insider Activity

In other Centessa Pharmaceuticals news, General Counsel Iqbal J. Hussain sold 6,000 shares of Centessa Pharmaceuticals stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $15.29, for a total transaction of $91,740.00. Following the completion of the sale, the general counsel now owns 118,265 shares of the company’s stock, valued at approximately $1,808,271.85. The trade was a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saurabh Saha sold 55,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $15.77, for a total value of $867,350.00. Following the sale, the chief executive officer now owns 429,398 shares in the company, valued at approximately $6,771,606.46. The trade was a 11.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,168 shares of company stock valued at $4,309,568 over the last ninety days. 11.59% of the stock is currently owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of CNTA. GAMMA Investing LLC increased its stake in shares of Centessa Pharmaceuticals by 1,509.6% in the first quarter. GAMMA Investing LLC now owns 61,762 shares of the company’s stock worth $888,000 after acquiring an additional 57,925 shares during the period. Wellington Management Group LLP boosted its holdings in Centessa Pharmaceuticals by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 115,107 shares of the company’s stock valued at $1,928,000 after purchasing an additional 14,494 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Centessa Pharmaceuticals during the 4th quarter worth about $31,000. Woodline Partners LP raised its stake in shares of Centessa Pharmaceuticals by 5.7% during the 4th quarter. Woodline Partners LP now owns 545,645 shares of the company’s stock valued at $9,140,000 after buying an additional 29,266 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Centessa Pharmaceuticals by 33.2% during the 4th quarter. Squarepoint Ops LLC now owns 26,806 shares of the company’s stock valued at $449,000 after buying an additional 6,685 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.