Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 3.3%

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price dropped 3.3% during mid-day trading on Tuesday . The stock traded as low as $9.64 and last traded at $9.67. Approximately 22,270 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 348,044 shares. The stock had previously closed at $10.00.

Analyst Ratings Changes

Separately, BMO Capital Markets restated an “outperform” rating and issued a $15.00 price objective on shares of Centessa Pharmaceuticals in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Centessa Pharmaceuticals Price Performance

The firm has a 50 day moving average price of $10.95 and a 200-day moving average price of $8.48. The company has a quick ratio of 8.00, a current ratio of 8.00 and a debt-to-equity ratio of 0.32.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.06. The company had revenue of $6.85 million for the quarter. As a group, equities analysts predict that Centessa Pharmaceuticals plc will post -1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Karen M. Anderson sold 51,160 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $11.88, for a total value of $607,780.80. Following the completion of the sale, the insider now directly owns 71,525 shares in the company, valued at $849,717. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Karen M. Anderson sold 51,160 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $11.88, for a total value of $607,780.80. Following the sale, the insider now directly owns 71,525 shares of the company’s stock, valued at $849,717. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Harris Rotman sold 4,267 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.10, for a total value of $34,562.70. Following the completion of the sale, the senior vice president now directly owns 62,625 shares in the company, valued at $507,262.50. The disclosure for this sale can be found here. Company insiders own 11.54% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several large investors have recently modified their holdings of CNTA. Octagon Capital Advisors LP lifted its stake in shares of Centessa Pharmaceuticals by 333.2% in the 4th quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock valued at $16,398,000 after purchasing an additional 1,584,500 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Centessa Pharmaceuticals by 25.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,830,500 shares of the company’s stock valued at $18,313,000 after purchasing an additional 580,500 shares during the last quarter. Acuta Capital Partners LLC purchased a new stake in shares of Centessa Pharmaceuticals in the 3rd quarter valued at $2,092,000. Franklin Resources Inc. increased its holdings in Centessa Pharmaceuticals by 34.1% during the 4th quarter. Franklin Resources Inc. now owns 1,115,817 shares of the company’s stock worth $8,882,000 after purchasing an additional 283,469 shares during the period. Finally, Platinum Investment Management Ltd. increased its holdings in Centessa Pharmaceuticals by 96.7% during the 3rd quarter. Platinum Investment Management Ltd. now owns 337,544 shares of the company’s stock worth $2,184,000 after purchasing an additional 165,919 shares during the period. Institutional investors and hedge funds 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 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.