Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 4.5% – Should You Sell?

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) fell 4.5% on Friday . The stock traded as low as $17.38 and last traded at $17.38. 600,342 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 411,010 shares. The stock had previously closed at $18.19.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNTA. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $11.00 to $26.00 in a report on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Jefferies Financial Group raised their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. B. Riley started coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Centessa Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Price Performance

The stock has a market cap of $1.93 billion, a PE ratio of -11.89 and a beta of 1.47. The business has a fifty day simple moving average of $16.09 and a two-hundred day simple moving average of $12.33. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. Research analysts forecast that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current year.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 25,000 shares of Centessa Pharmaceuticals stock in a transaction on Monday, September 9th. The stock was sold at an average price of $15.00, for a total transaction of $375,000.00. Following the completion of the transaction, the insider now owns 223,369 shares in the company, valued at approximately $3,350,535. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $16.53, for a total value of $909,150.00. Following the completion of the sale, the chief executive officer now directly owns 721,924 shares in the company, valued at approximately $11,933,403.72. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 308,158 shares of company stock worth $5,007,043 in the last three months. 11.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNTA. Acadian Asset Management LLC bought a new stake in shares of Centessa Pharmaceuticals during the first quarter valued at approximately $330,000. EntryPoint Capital LLC bought a new stake in shares of Centessa Pharmaceuticals in the 1st quarter worth $109,000. Price T Rowe Associates Inc. MD raised its stake in shares of Centessa Pharmaceuticals by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock worth $33,427,000 after purchasing an additional 418,615 shares during the last quarter. First Light Asset Management LLC bought a new position in shares of Centessa Pharmaceuticals during the first quarter valued at $33,923,000. Finally, Artal Group S.A. lifted its holdings in shares of Centessa Pharmaceuticals by 39.5% during the first quarter. Artal Group S.A. now owns 1,412,500 shares of the company’s stock valued at $15,961,000 after purchasing an additional 400,000 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.