Centessa Pharmaceuticals (NASDAQ:CNTA) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Centessa Pharmaceuticals (NASDAQ:CNTA) from a hold rating to a sell rating in a report published on Sunday.

Several other equities research analysts have also recently weighed in on the company. Lifesci Capital raised Centessa Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, September 3rd. Truist Financial started coverage on Centessa Pharmaceuticals in a research note on Monday, July 21st. They issued a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a research note on Wednesday, October 8th. Oppenheimer initiated coverage on Centessa Pharmaceuticals in a research note on Friday, August 29th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on Centessa Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an “overweight” rating and a $31.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.38.

Centessa Pharmaceuticals Price Performance

Shares of CNTA stock opened at $22.74 on Friday. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -12.70 and a beta of 1.57. The business’s fifty day moving average is $20.58 and its 200 day moving average is $16.00. Centessa Pharmaceuticals has a twelve month low of $9.60 and a twelve month high of $24.57. The company has a quick ratio of 10.12, a current ratio of 10.11 and a debt-to-equity ratio of 0.32.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results 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). Research analysts expect that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In other news, insider Mario Alberto Accardi sold 8,172 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $21.40, for a total transaction of $174,880.80. Following the transaction, the insider directly owned 197,394 shares of the company’s stock, valued at $4,224,231.60. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $22.41, for a total value of $134,460.00. Following the transaction, the general counsel directly owned 105,386 shares in the company, valued at approximately $2,361,700.26. The trade was a 5.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,286 shares of company stock valued at $3,252,205. Insiders own 7.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CNTA. HighMark Wealth Management LLC lifted its holdings in shares of Centessa Pharmaceuticals by 41.9% during the first quarter. HighMark Wealth Management LLC now owns 235,785 shares of the company’s stock valued at $3,391,000 after purchasing an additional 69,650 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Centessa Pharmaceuticals during the first quarter valued at $147,000. Cerity Partners LLC bought a new position in shares of Centessa Pharmaceuticals during the first quarter valued at $471,000. Wildcat Capital Management LLC bought a new position in shares of Centessa Pharmaceuticals during the first quarter valued at $4,053,000. Finally, Windmill Hill Asset Management Ltd bought a new position in shares of Centessa Pharmaceuticals during the first quarter valued at $1,696,000. 82.01% of the stock is 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.