Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Down 3.8% After Insider Selling

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

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

Analysts Set New Price Targets

Several research firms recently commented on CNTA. Needham & Company LLC began coverage on Centessa Pharmaceuticals in a report on Wednesday, May 28th. They issued a "buy" rating and a $35.00 price target for the company. Oppenheimer assumed coverage on Centessa Pharmaceuticals in a research note on Thursday, May 8th. They issued an "outperform" rating and a $6.00 target price for the company. Morgan Stanley reissued an "overweight" rating and set a $27.00 price target on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. Chardan Capital started coverage on shares of Centessa Pharmaceuticals in a report on Thursday, May 8th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Piper Sandler started coverage on shares of Centessa Pharmaceuticals in a research note on Monday, March 31st. They set an "overweight" rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.89.

Centessa Pharmaceuticals Stock Performance

The company has a current ratio of 14.37, a quick ratio of 14.37 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -7.25 and a beta of 1.48. The stock's fifty day simple moving average is $12.83 and its 200-day simple moving average is $14.72.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its earnings results 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. Analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current year.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its stake in Centessa Pharmaceuticals by 279.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company's stock valued at $82,218,000 after purchasing an additional 3,614,623 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position 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 last quarter. Foresite Capital Management VI LLC acquired a new stake in Centessa Pharmaceuticals during the 4th quarter worth $20,994,000. Point72 Asset Management L.P. lifted its position in Centessa Pharmaceuticals by 26.2% in the fourth quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company's stock valued at $57,396,000 after acquiring an additional 710,936 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Centessa Pharmaceuticals by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company's stock valued at $89,854,000 after acquiring an additional 685,371 shares during the last quarter. Institutional investors and hedge funds 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.