Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 3.8% - Here's Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report)'s share price was down 3.8% during trading on Tuesday . The stock traded as low as $16.86 and last traded at $16.86. Approximately 60,408 shares changed hands during trading, a decline of 86% from the average daily volume of 432,558 shares. The stock had previously closed at $17.53.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNTA shares. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $11.00 to $26.00 in a report on Thursday, September 19th. BMO Capital Markets upped their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an "outperform" rating in a report on Monday, September 16th. Jefferies Financial Group lifted their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. B. Riley initiated coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a "buy" rating and a $33.00 price target on the stock. Finally, Guggenheim lifted their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $25.83.

Centessa Pharmaceuticals Stock Down 3.6 %

The company has a market cap of $2.23 billion, a P/E ratio of -11.05 and a beta of 1.52. The company's 50-day moving average is $16.66 and its two-hundred day moving average is $13.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.05. As a group, equities analysts predict that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 2,592 shares of Centessa Pharmaceuticals stock in a transaction that occurred on 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 owns 630,661 shares of the company's stock, valued at approximately $9,661,726.52. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory M. Weinhoff sold 11,742 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $15.38, for a total transaction of $180,591.96. Following the sale, the insider now owns 183,266 shares of the company's stock, valued at approximately $2,818,631.08. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,642 shares of company stock valued at $6,425,926. 11.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Centessa Pharmaceuticals in the third quarter worth approximately $2,834,000. Nantahala Capital Management LLC bought a new position in Centessa Pharmaceuticals in the 2nd quarter worth $4,064,000. Wellington Management Group LLP purchased a new position in Centessa Pharmaceuticals during the third quarter valued at $1,609,000. Ally Bridge Group NY LLC bought a new stake in Centessa Pharmaceuticals during the third quarter valued at about $4,951,000. Finally, Driehaus Capital Management LLC increased its position in Centessa Pharmaceuticals by 89.5% in the second quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company's stock worth $18,891,000 after buying an additional 987,997 shares in the last quarter. Institutional investors 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 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.