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

Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report) 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 changing hands.

Specifically, insider Gregory M. Weinhoff sold 10,000 shares of the business's 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 transaction, the insider now owns 134,021 shares in the company, valued at approximately $2,189,903.14. The trade was a 6.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the chief executive officer now owns 276,017 shares of the company's stock, valued at approximately $4,606,723.73. This trade represents a 16.62 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

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

Centessa Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -9.54 and a beta of 1.54. The company has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $16.42.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its quarterly earnings data on Monday, March 24th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.04. On average, equities research analysts predict that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in CNTA. Jane Street Group LLC acquired a new position in Centessa Pharmaceuticals during the 3rd quarter worth $2,834,000. Wellington Management Group LLP bought a new position in Centessa Pharmaceuticals in the 3rd quarter valued at about $1,609,000. State Street Corp acquired a new position in Centessa Pharmaceuticals during the 3rd quarter valued at about $777,000. Lord Abbett & CO. LLC bought a new stake in shares of Centessa Pharmaceuticals during the 3rd quarter worth about $4,305,000. Finally, Franklin Resources Inc. lifted its stake in shares of Centessa Pharmaceuticals by 99.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company's stock worth $38,360,000 after acquiring an additional 1,145,823 shares during the period. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.