Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Down 3.8% Following Insider Selling

Shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) fell 3.8% during trading on Thursday following insider selling activity. The company traded as low as $12.95 and last traded at $12.93. 65,287 shares were traded during mid-day trading, a decline of 91% from the average session volume of 726,424 shares. The stock had previously closed at $13.43.

Specifically, insider Mario Alberto Accardi sold 15,000 shares of Centessa Pharmaceuticals stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $14.00, for a total transaction of $210,000.00. Following the completion of the transaction, the insider now owns 216,485 shares of the company's stock, valued at $3,030,790. This trade represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Iqbal J. Hussain sold 12,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $14.02, for a total transaction of $168,240.00. Following the sale, the general counsel now directly owns 105,386 shares in the company, valued at $1,477,511.72. This trade represents a 10.22% decrease in their position. The disclosure for this sale can be found here. In other news, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $13.86, for a total value of $138,600.00. Following the completion of the transaction, the insider now directly owns 122,279 shares of the company's stock, valued at approximately $1,694,786.94. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CNTA shares. Guggenheim restated a "buy" rating and set a $28.00 target price on shares of Centessa Pharmaceuticals in a research report on Wednesday, March 26th. Needham & Company LLC started coverage on 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 started coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, May 8th. They issued an "outperform" rating and a $6.00 price objective for the company. Finally, Morgan Stanley reiterated an "overweight" rating and set a $27.00 target price on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.89.

Centessa Pharmaceuticals Price Performance

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 business has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $14.70. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -7.25 and a beta of 1.48.

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

Institutional Trading of Centessa Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Centessa Pharmaceuticals by 40.1% during the fourth quarter. JPMorgan Chase & Co. now owns 190,385 shares of the company's stock valued at $3,189,000 after buying an additional 54,482 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Centessa Pharmaceuticals by 1,509.6% during the first quarter. GAMMA Investing LLC now owns 61,762 shares of the company's stock valued at $888,000 after purchasing an additional 57,925 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Centessa Pharmaceuticals during the fourth quarter worth about $162,000. OMERS ADMINISTRATION Corp bought a new stake in Centessa Pharmaceuticals in the 4th quarter worth about $171,000. Finally, Ameriprise Financial Inc. bought a new stake in Centessa Pharmaceuticals in the 4th quarter worth about $320,000. 82.01% of the stock is owned by institutional investors.

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.