Driehaus Capital Management LLC Sells 502,650 Shares of Centessa Pharmaceuticals PLC Sponsored ADR $CNTA

Key Points

• Driehaus Capital Management LLC decreased its stake in Centessa Pharmaceuticals by 31.5%, selling 502,650 shares and owning approximately $15.8 million worth of the company as of the latest SEC filing.
• Several hedge funds have increased their positions in Centessa Pharmaceuticals, with Barclays PLC lifting their stake by 1,414.9% and Caitong International Asset Management increasing theirs by 15,209.5%.
• Analysts have mixed ratings for Centessa Pharmaceuticals, with an average target price of $31.50 and some firms, like Wall Street Zen, downgrading their rating from hold to sell.

Driehaus Capital Management LLC cut its holdings in Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,095,533 shares of the company's stock after selling 502,650 shares during the period. Driehaus Capital Management LLC owned approximately 0.82% of Centessa Pharmaceuticals worth $15,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CNTA. Janus Henderson Group PLC raised its position in shares of Centessa Pharmaceuticals by 279.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company's stock worth $82,218,000 after acquiring an additional 3,614,623 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Centessa Pharmaceuticals by 26.2% in the 4th quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company's stock worth $57,396,000 after acquiring an additional 710,936 shares in the last quarter. Farallon Capital Management LLC raised its position in shares of Centessa Pharmaceuticals by 24.3% in the 4th quarter. Farallon Capital Management LLC now owns 3,498,709 shares of the company's stock worth $58,603,000 after acquiring an additional 684,391 shares in the last quarter. Stempoint Capital LP raised its position in shares of Centessa Pharmaceuticals by 667.3% in the 4th quarter. Stempoint Capital LP now owns 641,964 shares of the company's stock worth $10,753,000 after acquiring an additional 558,302 shares in the last quarter. Finally, Affinity Asset Advisors LLC raised its position in shares of Centessa Pharmaceuticals by 41.1% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,546,662 shares of the company's stock worth $22,241,000 after acquiring an additional 450,738 shares in the last quarter. 82.01% of the stock is owned by institutional investors.

Centessa Pharmaceuticals Stock Performance

Shares of NASDAQ CNTA traded down $0.10 during midday trading on Thursday, reaching $15.82. The company's stock had a trading volume of 409,208 shares, compared to its average volume of 970,039. Centessa Pharmaceuticals PLC Sponsored ADR has a 12-month low of $9.60 and a 12-month high of $19.09. The firm has a 50 day moving average price of $15.88 and a 200-day moving average price of $14.47. The stock has a market capitalization of $2.12 billion, a P/E ratio of -8.84 and a beta of 1.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.11 and a quick ratio of 10.12.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.03). As a group, equities analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current year.

Insider Activity at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 55,000 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $15.92, for a total transaction of $875,600.00. Following the completion of the transaction, the chief executive officer directly owned 221,017 shares in the company, valued at $3,518,590.64. The trade was a 19.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mario Alberto Accardi sold 8,322 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $15.23, for a total transaction of $126,744.06. Following the transaction, the insider owned 208,163 shares of the company's stock, valued at $3,170,322.49. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,322 shares of company stock worth $2,472,814. Company insiders own 7.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CNTA. Wells Fargo & Company began coverage on Centessa Pharmaceuticals in a research report on Wednesday. They issued an "overweight" rating and a $31.00 price objective for the company. Oppenheimer started coverage on Centessa Pharmaceuticals in a research note on Friday, August 29th. They issued an "outperform" rating and a $40.00 target price for the company. Wall Street Zen downgraded Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Truist Financial started coverage on Centessa Pharmaceuticals in a research note on Monday, July 21st. They issued a "buy" rating and a $30.00 target price for the company. Finally, Needham & Company LLC started coverage on Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a "buy" rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $31.45.

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.