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

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares gapped down prior to trading on Wednesday following insider selling activity. 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.

Specifically, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $16.34, for a total value of $163,400.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $16.69, for a total transaction of $917,950.00. Following the sale, the chief executive officer now owns 276,017 shares of the company’s stock, valued at approximately $4,606,723.73. This represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

CNTA has been the subject of several analyst reports. TD Cowen assumed coverage on shares of Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $27.00 target price on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Finally, Guggenheim restated a “buy” rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $26.00.

Centessa Pharmaceuticals Trading Down 0.2 %

The stock has a market capitalization of $1.91 billion, a PE ratio of -9.48 and a beta of 1.54. 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 stock has a 50 day moving average price of $16.49 and a 200-day moving average price of $16.41.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Monday, March 24th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.04. Sell-side analysts expect that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Institutional Trading of Centessa Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Centessa Pharmaceuticals in the third quarter worth approximately $2,834,000. Wellington Management Group LLP bought a new position in Centessa Pharmaceuticals in the 3rd quarter worth $1,609,000. State Street Corp bought a new position in Centessa Pharmaceuticals in the 3rd quarter worth $777,000. Ally Bridge Group NY LLC purchased a new position in Centessa Pharmaceuticals during the third quarter valued at $4,951,000. Finally, Lord Abbett & CO. LLC bought a new stake in Centessa Pharmaceuticals during the third quarter valued at about $4,305,000. 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.