Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 5% – Time to Sell?

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares dropped 5% during mid-day trading on Tuesday . The stock traded as low as $13.62 and last traded at $13.66. Approximately 420,945 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 548,982 shares. The stock had previously closed at $14.38.

Analyst Ratings Changes

A number of equities analysts have recently commented 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. Piper Sandler initiated coverage on shares of Centessa Pharmaceuticals in a report on Monday. They set an “overweight” rating and a $38.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and set a $27.00 target price on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. Finally, Guggenheim reissued a “buy” rating and issued a $28.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, March 26th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $27.71.

Centessa Pharmaceuticals Stock Down 8.4 %

The business has a 50-day simple moving average of $16.46 and a 200-day simple moving average of $16.43. 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 company has a market cap of $1.74 billion, a PE ratio of -8.52 and a beta of 1.54.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings data on Monday, March 24th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.04. Equities research analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, 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 transaction, the insider now owns 134,021 shares in the company, valued at $2,189,903.14. This trade represents a 6.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karen M. Anderson sold 30,526 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $19.03, for a total value of $580,909.78. Following the transaction, the insider now owns 54,322 shares in the company, valued at approximately $1,033,747.66. This represents a 35.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 260,168 shares of company stock valued at $4,309,568. 11.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in Centessa Pharmaceuticals in the fourth quarter valued at about $31,000. GAMMA Investing LLC boosted its stake in Centessa Pharmaceuticals by 29.1% during the fourth quarter. GAMMA Investing LLC now owns 3,837 shares of the company’s stock worth $64,000 after buying an additional 865 shares in the last quarter. Barclays PLC lifted its position in shares of Centessa Pharmaceuticals by 1,414.9% during the 4th quarter. Barclays PLC now owns 5,302 shares of the company’s stock worth $89,000 after buying an additional 4,952 shares during the period. BNP Paribas Financial Markets acquired a new position in Centessa Pharmaceuticals in the fourth quarter valued at about $162,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Centessa Pharmaceuticals during the fourth quarter worth $171,000. 82.01% of the stock is 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.