Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Down 9.5% - Should You Sell?

Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report)'s stock price dropped 9.5% on Thursday . The company traded as low as $11.26 and last traded at $11.34. Approximately 290,533 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 664,958 shares. The stock had previously closed at $12.53.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNTA. Wall Street Zen raised Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Piper Sandler assumed coverage on Centessa Pharmaceuticals in a research note on Monday, March 31st. They set an "overweight" rating and a $38.00 price target for the company. Needham & Company LLC began coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They issued a "buy" rating and a $35.00 price objective on the stock. Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, May 8th. They set an "outperform" rating and a $6.00 target price for the company. Finally, Chardan Capital assumed coverage on shares of Centessa Pharmaceuticals in a report on Thursday, May 8th. They set a "buy" rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.89.

Centessa Pharmaceuticals Trading Up 0.5%

The stock's 50-day simple moving average is $12.57 and its two-hundred day simple moving average is $15.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The firm has a market capitalization of $1.59 billion, a P/E ratio of -7.79 and a beta of 1.48.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.15. Equities research analysts expect that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Insider Transactions at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, insider David M. Chao sold 7,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $17.17, for a total value of $120,190.00. Following the completion of the transaction, the insider now directly owns 225,007 shares in the company, valued at $3,863,370.19. This represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arjun Goyal acquired 417,646 shares of Centessa Pharmaceuticals stock in a transaction dated Friday, May 16th. The shares were bought at an average price of $12.73 per share, for a total transaction of $5,316,633.58. Following the transaction, the director now owns 462,585 shares of the company's stock, valued at approximately $5,888,707.05. The trade was a 929.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 175,398 shares of company stock valued at $2,551,442 over the last 90 days. Company insiders own 7.09% of the company's stock.

Institutional Trading of Centessa Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Centessa Pharmaceuticals in the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $46,000 after buying an additional 3,194 shares during the period. Osterweis Capital Management Inc. bought a new stake in shares of Centessa Pharmaceuticals in the 1st quarter worth about $47,000. Barclays PLC boosted its position in shares of Centessa Pharmaceuticals by 1,414.9% during the fourth quarter. Barclays PLC now owns 5,302 shares of the company's stock valued at $89,000 after buying an additional 4,952 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Centessa Pharmaceuticals in the 4th quarter valued at $162,000. 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.