Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down on Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $15.81, but opened at $15.40. Centessa Pharmaceuticals shares last traded at $14.83, with a volume of 116,993 shares trading hands.

Specifically, insider Gregory M. Weinhoff sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $16.34, for a total transaction of $163,400.00. Following the sale, the insider now owns 134,021 shares of the company’s stock, valued at $2,189,903.14. The trade was a 6.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $16.69, for a total value of $917,950.00. Following the completion of the transaction, the chief executive officer now directly owns 276,017 shares of the company’s stock, valued at $4,606,723.73. The trade was a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several brokerages have issued reports on CNTA. TD Cowen began coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 target price on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Finally, Guggenheim reissued a “buy” rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday. Seven equities 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 price target of $26.00.

Centessa Pharmaceuticals Stock Performance

The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.91 billion, a PE ratio of -9.48 and a beta of 1.54. The stock’s 50 day moving average price is $16.49 and its 200 day moving average price is $16.41.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings data on Monday, March 24th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.04. As a group, equities analysts forecast that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several hedge funds have recently modified their holdings of CNTA. The Manufacturers Life Insurance Company grew its holdings in Centessa Pharmaceuticals by 88.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 264,969 shares of the company’s stock valued at $4,237,000 after purchasing an additional 124,075 shares in the last quarter. FMR LLC boosted its position in Centessa Pharmaceuticals by 4.6% in the 3rd quarter. FMR LLC now owns 2,916,494 shares of the company’s stock valued at $46,635,000 after buying an additional 129,300 shares during the last quarter. Ally Bridge Group NY LLC acquired a new stake in shares of Centessa Pharmaceuticals during the third quarter valued at about $4,951,000. Suvretta Capital Management LLC purchased a new stake in shares of Centessa Pharmaceuticals during the third quarter worth about $1,119,000. Finally, Walleye Capital LLC acquired a new position in shares of Centessa Pharmaceuticals in the third quarter worth about $187,000. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

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.