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

Centessa Pharmaceuticals plc (NASDAQ:CNTA) 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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CNTA shares. BMO Capital Markets boosted their target price on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Jefferies Financial Group upped their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. Oppenheimer reiterated an “outperform” rating and set a $14.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Finally, B. Riley began coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They set a “buy” rating and a $33.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Centessa Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $25.83.

Centessa Pharmaceuticals Stock Up 7.0 %

The stock has a 50-day moving average price of $16.03 and a two-hundred day moving average price of $12.29. 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 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 anticipate that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $16.53, for a total transaction of $909,150.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory M. Weinhoff sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.00, for a total transaction of $375,000.00. Following the completion of the transaction, the insider now directly owns 223,369 shares in the company, valued at $3,350,535. This trade represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,158 shares of company stock worth $5,007,043 over the last 90 days. Company insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNTA. First Light Asset Management LLC acquired a new position in shares of Centessa Pharmaceuticals during the first quarter worth $33,923,000. Farallon Capital Management LLC raised its holdings in Centessa Pharmaceuticals by 438.0% during the second quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock worth $18,024,000 after purchasing an additional 1,625,000 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Centessa Pharmaceuticals during the third quarter worth about $20,698,000. Driehaus Capital Management LLC grew its position in Centessa Pharmaceuticals by 89.5% during the second quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after buying an additional 987,997 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Centessa Pharmaceuticals by 54.1% in the third quarter. Point72 Asset Management L.P. now owns 2,715,663 shares of the company’s stock valued at $43,423,000 after purchasing an additional 953,659 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

About Centessa Pharmaceuticals

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.