Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 3.2% – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares dropped 3.2% on Tuesday . The stock traded as low as $15.71 and last traded at $15.82. Approximately 53,851 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 429,427 shares. The stock had previously closed at $16.35.

Analyst Upgrades and Downgrades

CNTA has been the topic of a number of research analyst reports. Guggenheim lifted their price target on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 15th. B. Riley assumed coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target on the stock. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. Jefferies Financial Group raised their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets increased their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $25.83.

Centessa Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. The stock has a 50 day moving average of $16.74 and a 200 day moving average of $13.97. The stock has a market capitalization of $2.12 billion, a P/E ratio of -10.52 and a beta of 1.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. Equities analysts predict that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Insiders Place Their Bets

In related news, insider Gregory M. Weinhoff sold 11,742 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $15.38, for a total transaction of $180,591.96. Following the transaction, the insider now directly owns 183,266 shares in the company, valued at $2,818,631.08. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saurabh Saha sold 87,496 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $18.46, for a total value of $1,615,176.16. Following the completion of the transaction, the chief executive officer now directly owns 575,661 shares of the company’s stock, valued at approximately $10,626,702.06. The trade was a 13.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 368,023 shares of company stock worth $6,335,574. Company insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Centessa Pharmaceuticals by 47.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock worth $40,000 after buying an additional 826 shares in the last quarter. Atria Investments Inc increased its position in Centessa Pharmaceuticals by 7.0% in the third quarter. Atria Investments Inc now owns 17,134 shares of the company’s stock worth $274,000 after purchasing an additional 1,116 shares during the period. GAMMA Investing LLC raised its holdings in Centessa Pharmaceuticals by 103.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after purchasing an additional 1,509 shares during the last quarter. Quarry LP lifted its position in Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after purchasing an additional 3,108 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Centessa Pharmaceuticals by 99.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,593 shares of the company’s stock valued at $217,000 after purchasing an additional 6,785 shares during 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.