Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – Here’s What Happened

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $18.08, but opened at $17.50. Centessa Pharmaceuticals shares last traded at $17.02, with a volume of 46,494 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on CNTA shares. Guggenheim increased their target price on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group raised their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. B. Riley started coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They set a “buy” rating and a $33.00 price objective on the stock. 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 report on Thursday, September 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $25.17.

Centessa Pharmaceuticals Trading Down 4.0 %

The company has a 50 day simple moving average of $15.81 and a 200 day simple moving average of $12.03. The stock has a market capitalization of $1.97 billion, a PE ratio of -11.82 and a beta of 1.47. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.05. Analysts predict that Centessa Pharmaceuticals plc will post -1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Saurabh Saha sold 4,169 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction of $51,362.08. Following the transaction, the chief executive officer now directly owns 827,755 shares in the company, valued at $10,197,941.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 16,619 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $15.69, for a total value of $260,752.11. Following the completion of the transaction, the insider now owns 206,750 shares in the company, valued at approximately $3,243,907.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saurabh Saha sold 4,169 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total value of $51,362.08. Following the completion of the sale, the chief executive officer now directly owns 827,755 shares of the company’s stock, valued at approximately $10,197,941.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,031 shares of company stock worth $5,213,043. 11.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in CNTA. Acadian Asset Management LLC acquired a new position in shares of Centessa Pharmaceuticals during the 1st quarter worth $330,000. Platinum Investment Management Ltd. grew its stake in shares of Centessa Pharmaceuticals by 27.3% during the 1st quarter. Platinum Investment Management Ltd. now owns 485,174 shares of the company’s stock worth $5,482,000 after purchasing an additional 104,091 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Centessa Pharmaceuticals during the 1st quarter worth $109,000. Affinity Asset Advisors LLC grew its stake in shares of Centessa Pharmaceuticals by 4.4% during the 1st quarter. Affinity Asset Advisors LLC now owns 830,546 shares of the company’s stock worth $9,385,000 after purchasing an additional 34,817 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Centessa Pharmaceuticals by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock worth $33,427,000 after purchasing an additional 418,615 shares during the period. 82.01% of the stock is owned by institutional investors and hedge funds.

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.