Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up – Here’s What Happened

Shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) gapped up prior to trading on Monday . The stock had previously closed at $15.73, but opened at $16.70. Centessa Pharmaceuticals shares last traded at $17.89, with a volume of 795,637 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CNTA shares. Wall Street Zen downgraded shares of Centessa Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Truist Financial assumed coverage on shares of Centessa Pharmaceuticals in a research note on Monday, July 21st. They issued a “buy” rating and a $30.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of Centessa Pharmaceuticals in a research note on Tuesday, August 12th. Lifesci Capital raised shares of Centessa Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Needham & Company LLC assumed coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a “buy” rating and a $35.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.45.

Centessa Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.48 billion, a P/E ratio of -10.32 and a beta of 1.47. The company’s 50-day moving average is $15.99 and its two-hundred day moving average is $14.43. The company has a current ratio of 10.11, a quick ratio of 10.12 and a debt-to-equity ratio of 0.32.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.03). As a group, sell-side analysts anticipate that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current fiscal year.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, General Counsel Iqbal J. Hussain sold 6,000 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $17.23, for a total transaction of $103,380.00. Following the sale, the general counsel directly owned 105,386 shares in the company, valued at approximately $1,815,800.78. The trade was a 5.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saurabh Saha sold 55,000 shares of the business’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $15.92, for a total transaction of $875,600.00. Following the sale, the chief executive officer owned 221,017 shares in the company, valued at $3,518,590.64. This trade represents a 19.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,322 shares of company stock valued at $2,472,814 over the last quarter. Corporate insiders own 7.09% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Centessa Pharmaceuticals by 1,509.6% in the 1st quarter. GAMMA Investing LLC now owns 61,762 shares of the company’s stock worth $888,000 after purchasing an additional 57,925 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Centessa Pharmaceuticals in the fourth quarter worth approximately $162,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Centessa Pharmaceuticals in the fourth quarter worth approximately $171,000. Cerity Partners LLC purchased a new position in shares of Centessa Pharmaceuticals in the first quarter worth approximately $471,000. Finally, American Century Companies Inc. increased its position in shares of Centessa Pharmaceuticals by 1.2% in the first quarter. American Century Companies Inc. now owns 1,092,754 shares of the company’s stock worth $15,714,000 after acquiring an additional 13,046 shares in the last quarter. 82.01% of the stock is currently 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.