Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – Should You Sell?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $16.74, but opened at $16.29. Centessa Pharmaceuticals shares last traded at $16.63, with a volume of 2,034 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CNTA shares. B. Riley initiated coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, September 19th. They set a “buy” rating and a $33.00 price objective for the company. Oppenheimer restated an “outperform” rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Jefferies Financial Group increased their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. Finally, 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $25.83.

Centessa Pharmaceuticals Stock Performance

The stock has a fifty day moving average price of $16.09 and a 200 day moving average price of $12.38. 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 $1.93 billion, a price-to-earnings ratio of -11.14 and a beta of 1.47.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. As a group, analysts predict that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current year.

Insider Activity at Centessa Pharmaceuticals

In other news, insider Gregory M. Weinhoff sold 25,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.00, for a total value of $375,000.00. Following the completion of the sale, the insider now directly owns 223,369 shares of the company’s stock, valued at approximately $3,350,535. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $16.53, for a total transaction of $909,150.00. Following the transaction, the chief executive officer now directly owns 721,924 shares in the company, valued at $11,933,403.72. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 364,829 shares of company stock worth $5,966,472 in the last 90 days. 11.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Centessa Pharmaceuticals by 68.7% during the third quarter. Geode Capital Management LLC now owns 56,597 shares of the company’s stock valued at $905,000 after acquiring an additional 23,058 shares during the period. Jane Street Group LLC acquired a new stake in shares of Centessa Pharmaceuticals during the 3rd quarter worth approximately $2,834,000. Wellington Management Group LLP bought a new stake in shares of Centessa Pharmaceuticals during the third quarter valued at approximately $1,609,000. State Street Corp acquired a new position in shares of Centessa Pharmaceuticals in the third quarter valued at $777,000. Finally, RTW Investments LP bought a new position in Centessa Pharmaceuticals in the third quarter worth $800,000. Institutional investors 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.