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

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

Wall Street Analysts Forecast Growth

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

Centessa Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $16.93 and a 200 day simple moving average of $14.30. 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 stock has a market cap of $2.12 billion, a price-to-earnings ratio of -10.50 and a beta of 1.53.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. As a group, sell-side analysts expect that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Insider Transactions at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 11,742 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $15.38, for a total transaction of $180,591.96. Following the completion of the transaction, the insider now owns 183,266 shares in the company, valued at $2,818,631.08. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $17.44, for a total value of $959,200.00. Following the completion of the sale, the chief executive officer now owns 520,661 shares in the company, valued at $9,080,327.84. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 368,023 shares of company stock valued at $6,335,574. Company insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Centessa Pharmaceuticals by 29.1% during 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 in the last quarter. JPMorgan Chase & Co. grew its position in Centessa Pharmaceuticals by 1,969.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 135,903 shares of the company’s stock worth $2,173,000 after acquiring an additional 129,335 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Centessa Pharmaceuticals during the 3rd quarter valued at $4,305,000. Franklin Resources Inc. raised its position in Centessa Pharmaceuticals by 99.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock valued at $38,360,000 after purchasing an additional 1,145,823 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Centessa Pharmaceuticals by 68.7% in the third quarter. Geode Capital Management LLC now owns 56,597 shares of the company’s stock worth $905,000 after purchasing an additional 23,058 shares in the last quarter. 82.01% of the stock is owned by 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.