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

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares gapped down prior to trading on Wednesday following insider selling activity. 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 traded.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen assumed coverage on Centessa Pharmaceuticals in a report on Tuesday, January 7th. They issued 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 research report on Friday, March 7th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Centessa Pharmaceuticals currently has an average rating of “Buy” and an average target price of $26.00.

Centessa Pharmaceuticals Price Performance

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 has a market capitalization of $1.91 billion, a P/E ratio of -9.48 and a beta of 1.54. The business has a fifty day moving average of $16.49 and a 200-day moving average of $16.41.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.04. On average, sell-side analysts forecast that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of CNTA. Jane Street Group LLC acquired a new position in shares of Centessa Pharmaceuticals during the third quarter valued at approximately $2,834,000. Wellington Management Group LLP bought a new stake in shares of Centessa Pharmaceuticals in the 3rd quarter worth $1,609,000. State Street Corp acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter valued at $777,000. Ally Bridge Group NY LLC bought a new position in Centessa Pharmaceuticals during the third quarter valued at about $4,951,000. Finally, Lord Abbett & CO. LLC acquired a new position in Centessa Pharmaceuticals during the third quarter worth about $4,305,000. Institutional investors own 82.01% of the company’s stock.

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.