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

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) gapped down before the market opened on Friday . The stock had previously closed at $16.87, but opened at $16.50. Centessa Pharmaceuticals shares last traded at $17.08, with a volume of 356,321 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $27.00 price objective on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. Guggenheim reissued a “buy” rating on shares of Centessa Pharmaceuticals in a research report on Monday, February 10th. Finally, TD Cowen began coverage on Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $26.00.

Centessa Pharmaceuticals Stock Up 2.0 %

The firm has a market cap of $2.27 billion, a PE ratio of -11.29 and a beta of 1.54. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $16.45 and a two-hundred day moving average price of $16.25.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.04, for a total value of $170,400.00. Following the sale, the insider now directly owns 183,266 shares in the company, valued at $3,122,852.64. This trade represents a 5.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $17.44, for a total value of $959,200.00. Following the transaction, the chief executive officer now directly owns 520,661 shares of the company’s stock, valued at approximately $9,080,327.84. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,310 shares of company stock worth $5,917,155 in the last quarter. 11.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Centessa Pharmaceuticals by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company’s stock valued at $89,854,000 after buying an additional 685,371 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Centessa Pharmaceuticals by 22.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,119,027 shares of the company’s stock worth $85,744,000 after buying an additional 924,027 shares during the last quarter. Janus Henderson Group PLC increased its position in Centessa Pharmaceuticals by 279.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company’s stock worth $82,218,000 after purchasing an additional 3,614,623 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in Centessa Pharmaceuticals by 24.3% in the fourth quarter. Farallon Capital Management LLC now owns 3,498,709 shares of the company’s stock valued at $58,603,000 after acquiring an additional 684,391 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Centessa Pharmaceuticals by 26.2% during the 4th quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company’s stock worth $57,396,000 after purchasing an additional 710,936 shares during the period. 82.01% of the stock is currently 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.