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

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price fell 5% on Tuesday . The company traded as low as $13.62 and last traded at $13.66. 420,945 shares were traded during mid-day trading, a decline of 23% from the average session volume of 548,982 shares. The stock had previously closed at $14.38.

Analyst Ratings Changes

A number of analysts have recently issued reports on CNTA shares. Morgan Stanley reaffirmed an “overweight” rating and set a $27.00 price target on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. TD Cowen assumed coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. Guggenheim restated a “buy” rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, March 26th. Finally, Piper Sandler initiated coverage on Centessa Pharmaceuticals in a research report on Monday. They set an “overweight” rating and a $38.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $27.71.

Centessa Pharmaceuticals Stock Down 4.7 %

The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.72 billion, a PE ratio of -8.54 and a beta of 1.54. The company’s 50 day moving average price is $16.34 and its two-hundred day moving average price is $16.39.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its 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, equities research analysts expect that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider David M. Chao sold 7,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $17.17, for a total transaction of $120,190.00. Following the completion of the sale, the insider now owns 225,007 shares in the company, valued at approximately $3,863,370.19. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred 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 sale, the insider now directly owns 134,021 shares in the company, valued at $2,189,903.14. This trade represents a 6.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 260,168 shares of company stock worth $4,309,568. Corporate insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

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

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.