Avidity Partners Management LP Sells 966,200 Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA)

Avidity Partners Management LP reduced its holdings in shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA - Free Report) by 45.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,165,800 shares of the company's stock after selling 966,200 shares during the quarter. Centessa Pharmaceuticals makes up 1.9% of Avidity Partners Management LP's investment portfolio, making the stock its 22nd largest position. Avidity Partners Management LP owned approximately 0.88% of Centessa Pharmaceuticals worth $19,527,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in Centessa Pharmaceuticals by 29.1% during the 4th quarter. GAMMA Investing LLC now owns 3,837 shares of the company's stock worth $64,000 after purchasing an additional 865 shares in the last quarter. Barclays PLC increased its stake in shares of Centessa Pharmaceuticals by 1,414.9% during the 4th quarter. Barclays PLC now owns 5,302 shares of the company's stock valued at $89,000 after acquiring an additional 4,952 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Centessa Pharmaceuticals during the fourth quarter worth about $162,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Centessa Pharmaceuticals by 39.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,909 shares of the company's stock valued at $317,000 after acquiring an additional 5,316 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Centessa Pharmaceuticals in the fourth quarter valued at about $320,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNTA has been the topic of several recent analyst reports. Piper Sandler began coverage on Centessa Pharmaceuticals in a research note on Monday, March 31st. They issued an "overweight" rating and a $38.00 price target on the stock. Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals in a report on Thursday. They issued an "outperform" rating and a $6.00 price objective for the company. Morgan Stanley reissued an "overweight" rating and set a $27.00 target price on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Chardan Capital started coverage on Centessa Pharmaceuticals in a report on Thursday. They set a "buy" rating and a $30.00 price target on the stock. Finally, Guggenheim reaffirmed a "buy" rating and set a $28.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, March 26th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $27.00.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 55,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.93, for a total value of $876,150.00. Following the completion of the sale, the chief executive officer now owns 331,017 shares of the company's stock, valued at approximately $5,273,100.81. This represents a 14.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David M. Chao sold 7,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $17.17, for a total transaction of $120,190.00. Following the completion of the transaction, the insider now directly owns 225,007 shares of the company's stock, valued at $3,863,370.19. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,827 shares of company stock valued at $2,705,568 over the last quarter. Corporate insiders own 11.59% of the company's stock.

Centessa Pharmaceuticals Price Performance

Shares of CNTA traded down $0.10 during trading hours on Friday, hitting $12.29. The stock had a trading volume of 433,401 shares, compared to its average volume of 622,131. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -8.03 and a beta of 1.53. The company's fifty day moving average is $13.95 and its two-hundred day moving average is $15.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. Centessa Pharmaceuticals plc has a 52 week low of $7.75 and a 52 week high of $19.09.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its quarterly earnings data on Monday, March 24th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.04. On average, analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

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.