Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 6.5% - What's Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report)'s share price fell 6.5% on Wednesday . The company traded as low as $10.05 and last traded at $10.02. 98,873 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 575,044 shares. The stock had previously closed at $10.71.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TD Cowen started coverage on shares of Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They set a "buy" rating for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $27.00 target price on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. Piper Sandler assumed coverage on Centessa Pharmaceuticals in a research note on Monday, March 31st. They set an "overweight" rating and a $38.00 price objective on the stock. Finally, Guggenheim reiterated a "buy" rating and issued a $28.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals has a consensus rating of "Buy" and an average price target of $27.71.

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 firm has a market cap of $1.59 billion, a PE ratio of -7.80 and a beta of 1.53. The business's fifty day moving average is $15.42 and its 200-day moving average is $16.11.

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

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 55,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $15.77, for a total value of $867,350.00. Following the completion of the transaction, the chief executive officer now directly owns 429,398 shares in the company, valued at approximately $6,771,606.46. This trade represents a 11.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $15.29, for a total transaction of $91,740.00. Following the completion of the transaction, the general counsel now directly owns 118,265 shares in the company, valued at approximately $1,808,271.85. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,168 shares of company stock valued at $4,309,568 over the last three months. 11.59% of the stock is currently owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in Centessa Pharmaceuticals by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company's stock valued at $89,854,000 after purchasing an additional 685,371 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Centessa Pharmaceuticals by 22.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,119,027 shares of the company's stock valued at $85,744,000 after buying an additional 924,027 shares in the last quarter. Janus Henderson Group PLC lifted its position in Centessa Pharmaceuticals by 279.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company's stock worth $82,218,000 after buying an additional 3,614,623 shares during the last quarter. Farallon Capital Management LLC boosted its stake in Centessa Pharmaceuticals by 24.3% in the fourth quarter. Farallon Capital Management LLC now owns 3,498,709 shares of the company's stock worth $58,603,000 after buying an additional 684,391 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Centessa Pharmaceuticals by 26.2% during the fourth quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company's stock valued at $57,396,000 after acquiring an additional 710,936 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company's stock.

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.