Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 10.5% – Here’s Why

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) traded down 10.5% during trading on Wednesday . The company traded as low as $15.42 and last traded at $15.50. 255,548 shares were traded during mid-day trading, a decline of 42% from the average session volume of 439,539 shares. The stock had previously closed at $17.32.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $11.00 to $26.00 in a report on Thursday, September 19th. BMO Capital Markets raised their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, September 16th. B. Riley assumed coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price objective for the company. TD Cowen assumed coverage on shares of Centessa Pharmaceuticals in a report on Tuesday. They issued a “buy” rating for the company. Finally, Guggenheim raised their price objective 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $25.83.

Centessa Pharmaceuticals Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. The firm’s fifty day simple moving average is $16.98 and its 200-day simple moving average is $14.33. The stock has a market cap of $2.06 billion, a P/E ratio of -10.22 and a beta of 1.53.

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

Insider Transactions at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 11,742 shares of Centessa Pharmaceuticals stock in a transaction on Friday, October 25th. The shares were sold at an average price of $15.38, for a total value of $180,591.96. Following the completion of the sale, the insider now owns 183,266 shares of the company’s stock, valued at approximately $2,818,631.08. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Saurabh Saha sold 1,671 shares of Centessa Pharmaceuticals stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.24, for a total transaction of $30,479.04. Following the completion of the sale, the chief executive officer now directly owns 575,661 shares of the company’s stock, valued at approximately $10,500,056.64. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 368,023 shares of company stock valued at $6,335,574 in the last quarter. 11.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. First Light Asset Management LLC lifted its stake in Centessa Pharmaceuticals by 59.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock valued at $43,168,000 after acquiring an additional 1,778,515 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Centessa Pharmaceuticals by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after acquiring an additional 850,000 shares in the last quarter. FMR LLC lifted its stake in Centessa Pharmaceuticals by 4.6% during the 3rd quarter. FMR LLC now owns 2,916,494 shares of the company’s stock valued at $46,635,000 after acquiring an additional 129,300 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Centessa Pharmaceuticals by 54.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,715,663 shares of the company’s stock valued at $43,423,000 after acquiring an additional 953,659 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Centessa Pharmaceuticals by 99.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock valued at $38,360,000 after acquiring an additional 1,145,823 shares in the last quarter. 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.