Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares 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.

Analyst Upgrades and Downgrades

CNTA has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. Jefferies Financial Group increased their target price 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 issued a “buy” rating and a $33.00 price target for the company. Guggenheim upped their price target on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Stock Down 6.3 %

The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -11.14 and a beta of 1.47. The stock has a 50-day moving average of $16.09 and a 200-day moving average 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.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.05. As a group, sell-side analysts forecast that Centessa Pharmaceuticals plc will post -1.62 EPS for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 1,671 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.24, for a total transaction of $30,479.04. Following the completion of the transaction, the chief executive officer now directly owns 575,661 shares in the company, valued at approximately $10,500,056.64. The trade was a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gregory M. Weinhoff sold 11,742 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $15.38, for a total value of $180,591.96. Following the completion of the transaction, the insider now directly owns 183,266 shares of the company’s stock, valued at $2,818,631.08. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 364,829 shares of company stock valued at $5,966,472 in the last ninety days. Company insiders own 11.59% of the company’s stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Centessa Pharmaceuticals during the 1st quarter valued at about $330,000. Price T Rowe Associates Inc. MD increased its stake in shares of Centessa Pharmaceuticals by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock valued at $33,427,000 after acquiring an additional 418,615 shares during the period. First Light Asset Management LLC acquired a new stake in Centessa Pharmaceuticals in the first quarter worth approximately $33,923,000. Artal Group S.A. lifted its position in Centessa Pharmaceuticals by 39.5% in the first quarter. Artal Group S.A. now owns 1,412,500 shares of the company’s stock worth $15,961,000 after purchasing an additional 400,000 shares during the period. Finally, Farallon Capital Management LLC acquired a new position in shares of Centessa Pharmaceuticals during the 1st quarter valued at $4,192,000. 82.01% of the stock is currently owned by institutional investors.

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.