Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 10.5% – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price fell 10.5% on Wednesday . The company traded as low as $15.42 and last traded at $15.50. 255,548 shares changed hands during trading, a decline of 42% from the average session volume of 439,539 shares. The stock had previously closed at $17.32.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group upped their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Guggenheim boosted their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. B. Riley began coverage on Centessa Pharmaceuticals in a research report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target for the company. BMO Capital Markets boosted their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, TD Cowen initiated coverage on shares of Centessa Pharmaceuticals in a report on Tuesday. They issued a “buy” rating for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Centessa Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.12 billion, a PE ratio of -10.50 and a beta of 1.53. 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 firm has a 50 day moving average of $16.93 and a 200-day moving average of $14.30.

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

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 22,205 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $15.80, for a total transaction of $350,839.00. Following the completion of the sale, the chief executive officer now directly owns 663,456 shares of the company’s stock, valued at $10,482,604.80. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Tia L. Bush sold 17,813 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $18.00, for a total value of $320,634.00. Following the sale, the chief technology officer now owns 147,615 shares of the company’s stock, valued at approximately $2,657,070. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 368,023 shares of company stock valued at $6,335,574 in the last quarter. Company insiders own 11.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CNTA. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 position 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 buying an additional 865 shares during the last quarter. Atria Investments Inc boosted its stake in shares of Centessa Pharmaceuticals by 7.0% during the 3rd quarter. Atria Investments Inc now owns 17,134 shares of the company’s stock worth $274,000 after acquiring an additional 1,116 shares in the last quarter. Quarry LP increased its holdings in shares of 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 acquiring an additional 3,108 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised 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 acquiring an additional 6,785 shares in the last quarter. Institutional investors and hedge funds own 82.01% of the company’s stock.

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.