Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 6.2% on Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares dropped 6.2% during trading on Monday following insider selling activity. The stock traded as low as $15.53 and last traded at $15.56. Approximately 317,849 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 393,548 shares. The stock had previously closed at $16.58.

Specifically, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 721,924 shares of the company’s stock, valued at approximately $11,933,403.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

CNTA has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Jefferies Financial Group increased their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Guggenheim increased their target price on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $25.17.

Centessa Pharmaceuticals Trading Down 0.3 %

The stock has a market capitalization of $1.56 billion, a PE ratio of -10.93 and a beta of 1.44. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $12.64 and a 200-day moving average price of $10.73.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Sell-side analysts expect that Centessa Pharmaceuticals plc will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new position in Centessa Pharmaceuticals in the 4th quarter worth $48,000. Sandia Investment Management LP bought a new position in Centessa Pharmaceuticals in the 2nd quarter worth $90,000. Fred Alger Management LLC bought a new position in Centessa Pharmaceuticals in the 2nd quarter worth $99,000. EntryPoint Capital LLC bought a new position in Centessa Pharmaceuticals in the 1st quarter worth $109,000. Finally, Trexquant Investment LP bought a new position in Centessa Pharmaceuticals in the 4th quarter worth $114,000. 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 to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.