Centessa Pharmaceuticals (NASDAQ:CNTA) General Counsel Iqbal Hussain Sells 6,000 Shares

Key Points

• Iqbal Hussain, General Counsel of Centessa Pharmaceuticals, sold 6,000 shares at an average price of $22.41, resulting in a total transaction value of $134,460, reducing his ownership by 5.39%.
• Centessa Pharmaceuticals has a market cap of $3.06 billion and its stock currently trades around $22.86, with a 52-week range between $9.60 and $24.57.
• Several analysts maintain a positive outlook, with price targets ranging from $28.00 to $40.00 and an average consensus target price of $32.38.

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) General Counsel Iqbal Hussain sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $22.41, for a total value of $134,460.00. Following the completion of the sale, the general counsel owned 105,386 shares of the company's stock, valued at $2,361,700.26. This represents a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Centessa Pharmaceuticals Price Performance

Shares of Centessa Pharmaceuticals stock traded up $0.29 during midday trading on Thursday, hitting $22.86. 1,300,641 shares of the company were exchanged, compared to its average volume of 1,025,381. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.11 and a quick ratio of 10.12. The firm has a market cap of $3.06 billion, a P/E ratio of -12.77 and a beta of 1.57. Centessa Pharmaceuticals PLC Sponsored ADR has a 52 week low of $9.60 and a 52 week high of $24.57. The firm has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $15.72.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Research analysts forecast that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current year.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in CNTA. Adage Capital Partners GP L.L.C. increased its stake in shares of Centessa Pharmaceuticals by 35.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company's stock valued at $99,999,000 after buying an additional 1,834,973 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Centessa Pharmaceuticals during the second quarter worth $16,052,000. Commodore Capital LP grew its stake in shares of Centessa Pharmaceuticals by 39.3% during the second quarter. Commodore Capital LP now owns 3,298,289 shares of the company's stock worth $43,340,000 after purchasing an additional 930,711 shares during the period. Stempoint Capital LP grew its stake in shares of Centessa Pharmaceuticals by 113.3% during the second quarter. Stempoint Capital LP now owns 1,265,672 shares of the company's stock worth $16,631,000 after purchasing an additional 672,337 shares during the period. Finally, Armistice Capital LLC acquired a new stake in shares of Centessa Pharmaceuticals during the first quarter worth $6,730,000. 82.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on CNTA shares. Chardan Capital reiterated a "buy" rating and issued a $30.00 price objective on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. Wells Fargo & Company started coverage on Centessa Pharmaceuticals in a research report on Wednesday, September 3rd. They issued an "overweight" rating and a $31.00 price objective for the company. Guggenheim reiterated a "buy" rating and issued a $28.00 price objective on shares of Centessa Pharmaceuticals in a research report on Monday, October 6th. Wall Street Zen upgraded Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, October 11th. Finally, Oppenheimer started coverage on Centessa Pharmaceuticals in a research report on Friday, August 29th. They issued an "outperform" rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.38.

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.

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