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

Centessa Pharmaceuticals plc (NASDAQ:CNTA) 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 trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on CNTA. Oppenheimer reissued an “outperform” rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. B. Riley began coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a “buy” rating and a $33.00 price objective on the stock. Morgan Stanley raised shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. Guggenheim increased their price objective on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group increased their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Centessa Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $25.17.

Centessa Pharmaceuticals Stock Performance

The company has a market capitalization of $1.97 billion, a PE ratio of -11.82 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 13.29 and a current ratio of 13.29. The stock’s fifty day simple moving average is $15.81 and its 200-day simple moving average is $12.03.

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

Insider Transactions at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 4,169 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction of $51,362.08. Following the transaction, the chief executive officer now directly owns 827,755 shares in the company, valued at $10,197,941.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Saurabh Saha sold 4,169 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction of $51,362.08. Following the transaction, the chief executive officer now directly owns 827,755 shares in the company, valued at $10,197,941.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory M. Weinhoff sold 11,742 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $15.38, for a total transaction of $180,591.96. Following the transaction, the insider now owns 183,266 shares in the company, valued at approximately $2,818,631.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 325,031 shares of company stock worth $5,213,043 in the last three months. Company insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of CNTA. Acadian Asset Management LLC acquired a new stake in Centessa Pharmaceuticals during the 1st quarter worth approximately $330,000. Platinum Investment Management Ltd. grew its position in Centessa Pharmaceuticals by 27.3% in the first quarter. Platinum Investment Management Ltd. now owns 485,174 shares of the company’s stock valued at $5,482,000 after acquiring an additional 104,091 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Centessa Pharmaceuticals in the first quarter valued at approximately $109,000. Affinity Asset Advisors LLC grew its position in Centessa Pharmaceuticals by 4.4% in the first quarter. Affinity Asset Advisors LLC now owns 830,546 shares of the company’s stock valued at $9,385,000 after acquiring an additional 34,817 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in 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 acquiring an additional 418,615 shares in the last quarter. 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.