Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 3.8% - Time to Sell?

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.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNTA. Oppenheimer began coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, May 8th. They set an "outperform" rating and a $6.00 price target on the stock. Chardan Capital restated a "buy" rating and set a $30.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Needham & Company LLC began coverage on shares of Centessa Pharmaceuticals in a research report on Wednesday, May 28th. They set a "buy" rating and a $35.00 price target on the stock. Finally, Truist Financial began coverage on shares of Centessa Pharmaceuticals in a research report on Monday, July 21st. They set a "buy" rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $28.10.

Centessa Pharmaceuticals Stock Down 1.5%

The company has a quick ratio of 14.37, a current ratio of 14.37 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -9.40 and a beta of 1.48. The business's fifty day moving average is $14.05 and its two-hundred day moving average is $14.45.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CNTA. GF Fund Management CO. LTD. acquired a new stake in Centessa Pharmaceuticals during the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its position in Centessa Pharmaceuticals by 15,209.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company's stock worth $46,000 after buying an additional 3,194 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in Centessa Pharmaceuticals during the 1st quarter worth $47,000. Barclays PLC raised its position in Centessa Pharmaceuticals by 1,414.9% during the 4th quarter. Barclays PLC now owns 5,302 shares of the company's stock worth $89,000 after buying an additional 4,952 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Centessa Pharmaceuticals during the 1st quarter worth $147,000. Hedge funds and other institutional investors 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.