Insider Selling: Centessa Pharmaceuticals plc (NASDAQ:CNTA) CEO Sells 175,000 Shares of Stock

Centessa Pharmaceuticals plc (NASDAQ:CNTA) CEO Saurabh Saha sold 175,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the completion of the sale, the chief executive officer now owns 776,924 shares of the company’s stock, valued at approximately $12,834,784.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Saurabh Saha also recently made the following trade(s):

• On Thursday, August 22nd, Saurabh Saha sold 506 shares of Centessa Pharmaceuticals stock. The shares were sold at an average price of $12.23, for a total transaction of $6,188.38.
• On Tuesday, August 20th, Saurabh Saha sold 4,169 shares of Centessa Pharmaceuticals stock. The stock was sold at an average price of $12.32, for a total transaction of $51,362.08.

Centessa Pharmaceuticals Price Performance

Shares of Centessa Pharmaceuticals stock traded up $1.35 during midday trading on Thursday, reaching $15.10. The company had a trading volume of 1,981,703 shares, compared to its average volume of 365,170. 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 company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -10.63 and a beta of 1.44. The stock has a fifty day simple moving average of $11.59 and a 200 day simple moving average of $10.45. Centessa Pharmaceuticals plc has a 1-year low of $5.15 and a 1-year high of $17.25.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). As a group, equities research analysts forecast that Centessa Pharmaceuticals plc will post -1.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNTA shares. Oppenheimer reissued an “outperform” rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Guggenheim increased their price target on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of Centessa Pharmaceuticals from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday. Jefferies Financial Group raised their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, June 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.60.

Institutional Trading of Centessa Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP boosted its stake in Centessa Pharmaceuticals by 47.8% in the second quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after acquiring an additional 3,108 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Centessa Pharmaceuticals by 69.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 10,817 shares of the company’s stock worth $122,000 after purchasing an additional 4,423 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Centessa Pharmaceuticals during the first quarter worth $109,000. Sandia Investment Management LP bought a new position in shares of Centessa Pharmaceuticals during the second quarter worth $90,000. Finally, Fred Alger Management LLC bought a new position in shares of Centessa Pharmaceuticals during the second quarter worth $99,000. 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.