Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 4.5% on Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA) was down 4.5% during mid-day trading on Friday following insider selling activity. The stock traded as low as $17.38 and last traded at $17.38. Approximately 600,342 shares were traded during trading, an increase of 46% from the average daily volume of 411,010 shares. The stock had previously closed at $18.19.

Specifically, CEO Saurabh Saha sold 55,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.89, for a total value of $928,950.00. Following the transaction, the chief executive officer now directly owns 575,661 shares of the company’s stock, valued at $9,722,914.29. The trade was a 8.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Saurabh Saha sold 1,671 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $18.24, for a total value of $30,479.04. Following the completion of the transaction, the chief executive officer now directly owns 575,661 shares in the company, valued at $10,500,056.64. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Jefferies Financial Group increased their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets increased their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. B. Riley assumed coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Guggenheim increased their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Trading Down 6.3 %

The firm has a fifty day simple moving average of $16.09 and a two-hundred day simple moving average of $12.40. The firm has a market capitalization of $1.93 billion, a P/E ratio of -11.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly 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, equities research analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 buying an additional 826 shares during the period. GAMMA Investing LLC boosted its stake in Centessa Pharmaceuticals by 103.1% during the third 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 boosted its stake in Centessa Pharmaceuticals by 47.8% during the second quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after buying an additional 3,108 shares during the period. Sandia Investment Management LP bought a new stake in Centessa Pharmaceuticals during the second quarter valued at $90,000. Finally, Fred Alger Management LLC bought a new stake in Centessa Pharmaceuticals during the second quarter valued at $99,000. 82.01% of the stock is owned by 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.