Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 3.8% - Here's Why

Key Points

• Centessa Pharmaceuticals' stock declined by 3.8% on Monday, trading as low as $16.19 in a session with 670,713 shares traded, significantly below its average volume.
• Analysts maintain a generally positive outlook, with eleven buy ratings and an average target price of $28.10 for the stock, indicating potential upside despite recent volatility.
• Insider trading activity includes the sale of over 230,322 shares by company executives in the past quarter, which has led to a 7.09% ownership stake by corporate insiders in Centessa Pharmaceuticals.

Shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) fell 3.8% on Monday . The company traded as low as $16.19 and last traded at $16.18. 670,713 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 950,075 shares. The stock had previously closed at $16.81.

Analyst Upgrades and Downgrades

CNTA has been the topic of a number of research analyst reports. Needham & Company LLC assumed coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They issued a "buy" rating and a $35.00 price target on the stock. Wall Street Zen upgraded Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals in a report on Thursday, May 8th. They issued an "outperform" rating and a $6.00 price objective for the company. Chardan Capital reiterated a "buy" rating and set a $30.00 target price on shares of Centessa Pharmaceuticals in a research report on Wednesday, July 30th. Finally, Truist Financial started coverage on shares of Centessa Pharmaceuticals in a research report on Monday, July 21st. They issued a "buy" rating and a $30.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $28.10.

Centessa Pharmaceuticals Price Performance

The stock has a market capitalization of $2.30 billion, a P/E ratio of -9.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.28, a quick ratio of 14.37 and a current ratio of 14.37. The business has a fifty day simple moving average of $14.22 and a 200-day simple moving average of $14.48.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.15. Sell-side analysts expect that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, insider Mario Alberto Accardi sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $14.00, for a total value of $210,000.00. Following the completion of the sale, the insider owned 216,485 shares of the company's stock, valued at approximately $3,030,790. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arjun Goyal bought 417,646 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average price of $12.73 per share, for a total transaction of $5,316,633.58. Following the completion of the acquisition, the director owned 462,585 shares in the company, valued at $5,888,707.05. This represents a 929.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 230,322 shares of company stock worth $3,196,684 in the last quarter. Company insiders own 7.09% of the company's stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Candriam S.C.A. purchased a new stake in shares of Centessa Pharmaceuticals in the second quarter worth approximately $4,568,000. Geode Capital Management LLC grew its holdings in Centessa Pharmaceuticals by 44.7% during the second quarter. Geode Capital Management LLC now owns 87,435 shares of the company's stock worth $1,149,000 after buying an additional 26,994 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Centessa Pharmaceuticals in the 2nd quarter valued at $218,000. Y Intercept Hong Kong Ltd bought a new position in Centessa Pharmaceuticals during the 2nd quarter valued at $613,000. Finally, Windmill Hill Asset Management Ltd boosted its holdings in Centessa Pharmaceuticals by 38.9% during the 2nd quarter. Windmill Hill Asset Management Ltd now owns 163,768 shares of the company's stock worth $2,152,000 after acquiring an additional 45,855 shares during the last quarter. Institutional investors and hedge funds own 82.01% of the company's stock.

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.