Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – What’s Next?

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) gapped down before the market opened on Wednesday . The stock had previously closed at $15.81, but opened at $15.40. Centessa Pharmaceuticals shares last traded at $14.83, with a volume of 116,993 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CNTA shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Guggenheim reissued a “buy” rating and set a $28.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday. Finally, TD Cowen started coverage on Centessa Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $26.00.

Centessa Pharmaceuticals Trading Down 7.4 %

The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $16.51 and a two-hundred day moving average price of $16.43. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -9.58 and a beta of 1.54.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings data on Monday, March 24th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.04. As a group, research analysts forecast that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gregory M. Weinhoff sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $17.04, for a total value of $170,400.00. Following the transaction, the insider now directly owns 183,266 shares in the company, valued at approximately $3,122,852.64. This represents a 5.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $15.29, for a total value of $91,740.00. Following the completion of the transaction, the general counsel now owns 118,265 shares of the company’s stock, valued at $1,808,271.85. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 260,168 shares of company stock valued at $4,316,568. 11.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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