Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 5.3% on Insider Selling

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price traded down 5.3% during trading on Monday after an insider sold shares in the company. The stock traded as low as $17.85 and last traded at $18.02. 142,969 shares were traded during mid-day trading, a decline of 77% from the average session volume of 617,110 shares. The stock had previously closed at $19.03.

Specifically, insider Karen M. Anderson sold 30,526 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $19.03, for a total value of $580,909.78. Following the transaction, the insider now owns 54,322 shares in the company, valued at approximately $1,033,747.66. This represents a 35.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Tia L. Bush sold 11,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $16.86, for a total transaction of $185,460.00. Following the completion of the sale, the chief technology officer now owns 121,503 shares of the company’s stock, valued at $2,048,540.58. This trade represents a 8.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Karen M. Anderson sold 6,471 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $16.86, for a total transaction of $109,101.06. Following the transaction, the insider now owns 54,322 shares in the company, valued at $915,868.92. This represents a 10.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Guggenheim reiterated a “buy” rating on shares of Centessa Pharmaceuticals in a report on Monday. TD Cowen initiated coverage on Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Trading Down 3.0 %

The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $16.78 and its 200-day moving average is $15.54.

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

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Centessa Pharmaceuticals by 40.1% in the 4th quarter. JPMorgan Chase & Co. now owns 190,385 shares of the company’s stock worth $3,189,000 after buying an additional 54,482 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Centessa Pharmaceuticals by 39.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,909 shares of the company’s stock worth $317,000 after acquiring an additional 5,316 shares during the period. GAMMA Investing LLC increased its position in Centessa Pharmaceuticals by 29.1% during the fourth quarter. GAMMA Investing LLC now owns 3,837 shares of the company’s stock worth $64,000 after acquiring an additional 865 shares during the period. Lord Abbett & CO. LLC bought a new position in Centessa Pharmaceuticals during the third quarter worth $4,305,000. Finally, Franklin Resources Inc. raised its stake in Centessa Pharmaceuticals by 99.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock valued at $38,360,000 after purchasing an additional 1,145,823 shares during 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.