Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 10.5% - Here's Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report)'s stock price traded down 10.5% during trading on Wednesday . The company traded as low as $15.42 and last traded at $15.50. 255,548 shares changed hands during trading, a decline of 42% from the average session volume of 439,539 shares. The stock had previously closed at $17.32.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNTA shares. B. Riley started coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a "buy" rating and a $33.00 price objective for the company. BMO Capital Markets increased their price target 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 lifted their price objective 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 raised shares of 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 report on Thursday, September 19th. Finally, TD Cowen started coverage on shares of Centessa Pharmaceuticals in a research report on Tuesday. They set a "buy" rating on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Centessa Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $25.83.

Centessa Pharmaceuticals Stock Down 7.0 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. The stock's 50 day simple moving average is $16.93 and its 200 day simple moving average is $14.30. The firm has a market cap of $2.12 billion, a P/E ratio of -10.52 and a beta of 1.53.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05. Research analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 2,592 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.32, for a total value of $39,709.44. Following the completion of the sale, the chief executive officer now directly owns 630,661 shares of the company's stock, valued at approximately $9,661,726.52. This represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $17.66, for a total transaction of $176,600.00. Following the transaction, the insider now directly owns 183,266 shares in the company, valued at approximately $3,236,477.56. This represents a 5.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 368,023 shares of company stock valued at $6,335,574 over the last 90 days. Insiders own 11.59% of the company's stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several large investors have recently made changes to their positions in CNTA. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Centessa Pharmaceuticals by 47.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company's stock worth $40,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC boosted its stake in Centessa Pharmaceuticals by 103.1% in the third quarter. GAMMA Investing LLC now owns 2,972 shares of the company's stock valued at $48,000 after acquiring an additional 1,509 shares during the last quarter. Quarry LP grew its position in shares of Centessa Pharmaceuticals by 47.8% during the 2nd 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 period. Sandia Investment Management LP purchased a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth approximately $90,000. Finally, Fred Alger Management LLC bought a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter worth approximately $99,000. 82.01% of the stock is 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.