Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – Should You Sell?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $16.74, but opened at $16.29. Centessa Pharmaceuticals shares last traded at $16.63, with a volume of 2,034 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNTA. B. Riley began coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They set a “buy” rating and a $33.00 target price on the stock. Oppenheimer restated an “outperform” rating and issued a $14.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Guggenheim boosted their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. Finally, Jefferies Financial Group increased their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Six equities 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 a consensus price target of $25.83.

Centessa Pharmaceuticals Stock Up 7.0 %

The firm has a 50 day moving average of $16.03 and a 200 day moving average of $12.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.05. As a group, research analysts predict that Centessa Pharmaceuticals plc will post -1.62 EPS for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 16,619 shares of Centessa Pharmaceuticals stock in a transaction 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 directly owns 206,750 shares in the company, valued at approximately $3,243,907.50. This trade represents a 7.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saurabh Saha sold 2,592 shares of Centessa Pharmaceuticals stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.32, for a total value of $39,709.44. Following the sale, the chief executive officer now owns 630,661 shares in the company, valued at $9,661,726.52. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 308,158 shares of company stock valued at $5,007,043. Company insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position 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 valued at $33,427,000 after purchasing an additional 418,615 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Centessa Pharmaceuticals during the second quarter worth about $4,064,000. Driehaus Capital Management LLC grew its position in Centessa Pharmaceuticals by 89.5% during the second quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after buying an additional 987,997 shares in the last quarter. GSA Capital Partners LLP grew its position in Centessa Pharmaceuticals by 66.1% during the third quarter. GSA Capital Partners LLP now owns 93,658 shares of the company’s stock worth $1,498,000 after buying an additional 37,275 shares in the last quarter. Finally, First Light Asset Management LLC grew its position in Centessa Pharmaceuticals by 59.2% during the second quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock worth $43,168,000 after buying an additional 1,778,515 shares in the last quarter. 82.01% of the stock is currently owned by 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.