Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – Here’s What Happened

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares gapped down prior to trading on Thursday . The stock had previously closed at $18.08, but opened at $17.50. Centessa Pharmaceuticals shares last traded at $17.02, with a volume of 46,494 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNTA. Jefferies Financial Group raised their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Guggenheim raised their price objective on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. BMO Capital Markets lifted their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, Oppenheimer restated an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Trading Down 8.6 %

The firm has a market cap of $1.81 billion, a P/E ratio of -10.46 and a beta of 1.47. The business’s 50-day moving average is $15.90 and its two-hundred day moving average is $12.12. The company has a current ratio of 21.52, a quick ratio of 13.29 and a debt-to-equity ratio of 0.15.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.05. As a group, analysts expect that Centessa Pharmaceuticals plc will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gregory M. Weinhoff sold 16,619 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $15.69, for a total transaction of $260,752.11. Following the sale, the insider now owns 206,750 shares of the company’s stock, valued at approximately $3,243,907.50. The trade was a 7.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Saurabh Saha sold 4,169 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the completion of the transaction, the chief executive officer now directly owns 827,755 shares of the company’s stock, valued at $10,197,941.60. This trade represents a 0.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 325,031 shares of company stock worth $5,213,043 in the last three months. 11.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after purchasing an additional 826 shares during the period. GAMMA Investing LLC raised its position in shares of Centessa Pharmaceuticals by 103.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after buying an additional 1,509 shares in the last quarter. Quarry LP lifted its stake in shares of Centessa Pharmaceuticals by 47.8% in the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after acquiring an additional 3,108 shares during the period. EntryPoint Capital LLC bought a new position in shares of Centessa Pharmaceuticals in the first quarter valued at approximately $109,000. Finally, Sandia Investment Management LP acquired a new position in shares of Centessa Pharmaceuticals during the second quarter valued at approximately $90,000. Institutional investors and hedge funds 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.