Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 5.3% on Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares dropped 5.3% during mid-day trading on Monday following insider selling activity. The company traded as low as $17.85 and last traded at $18.02. Approximately 142,969 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 617,110 shares. The stock had previously closed at $19.03.

Specifically, insider Karen M. Anderson sold 30,526 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $19.03, for a total transaction of $580,909.78. Following the sale, the insider now directly owns 54,322 shares of the company’s stock, valued at $1,033,747.66. The trade was a 35.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Tia L. Bush sold 11,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $16.86, for a total value of $185,460.00. Following the completion of the transaction, the chief technology officer now owns 121,503 shares of the company’s stock, valued at approximately $2,048,540.58. This trade represents a 8.30 % decrease in their position. The disclosure for this sale can be found here. In other Centessa Pharmaceuticals news, insider Karen M. Anderson sold 6,471 shares of Centessa Pharmaceuticals stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $16.86, for a total transaction of $109,101.06. Following the completion of the transaction, the insider now directly owns 54,322 shares of the company’s stock, valued at $915,868.92. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

CNTA has been the topic of a number of recent research reports. Guggenheim reissued a “buy” rating on shares of Centessa Pharmaceuticals in a research report on Monday. TD Cowen initiated coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Centessa Pharmaceuticals presently has an average rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Performance

The company’s 50-day moving average price is $16.78 and its 200 day moving average price is $15.54. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. Analysts forecast that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Centessa Pharmaceuticals by 47.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $48,000 after purchasing an additional 1,509 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Centessa Pharmaceuticals during the third quarter worth $187,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Centessa Pharmaceuticals by 99.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,593 shares of the company’s stock valued at $217,000 after buying an additional 6,785 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Centessa Pharmaceuticals in the 3rd quarter valued at $259,000. 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.