Price T Rowe Associates Inc. MD Sells 22,048 Shares of Centessa Pharmaceuticals PLC Sponsored ADR $CNTA

Key Points

• Price T Rowe Associates Inc. reduced its stake in Centessa Pharmaceuticals by 0.4%, owning 5,342,344 shares worth $76.8 million after selling 22,048 shares.
• Insider sales included CEO Saurabh Saha, who sold 55,000 shares for $875,600, reflecting a 19.93% decrease in his position.
• Centessa Pharmaceuticals' stock is currently rated as a "buy" by several analysts, with a consensus price target of $28.10, while it opened at $17.00.

Price T Rowe Associates Inc. MD trimmed its position in shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,342,344 shares of the company's stock after selling 22,048 shares during the period. Price T Rowe Associates Inc. MD owned approximately 4.01% of Centessa Pharmaceuticals worth $76,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Centessa Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 57,257 shares of the company's stock valued at $959,000 after acquiring an additional 660 shares during the period. GF Fund Management CO. LTD. bought a new position in Centessa Pharmaceuticals during the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd increased its stake in Centessa Pharmaceuticals by 15,209.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company's stock valued at $46,000 after acquiring an additional 3,194 shares during the period. Osterweis Capital Management Inc. bought a new position in Centessa Pharmaceuticals during the first quarter valued at about $47,000. Finally, Barclays PLC grew its stake in shares of Centessa Pharmaceuticals by 1,414.9% in the 4th quarter. Barclays PLC now owns 5,302 shares of the company's stock valued at $89,000 after purchasing an additional 4,952 shares during the period. 82.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNTA has been the topic of several analyst reports. Wall Street Zen lowered Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Chardan Capital reiterated a "buy" rating and issued a $30.00 price objective on shares of Centessa Pharmaceuticals in a research note on Tuesday, August 12th. Truist Financial initiated coverage on Centessa Pharmaceuticals in a research note on Monday, July 21st. They issued a "buy" rating and a $30.00 price objective on the stock. Needham & Company LLC initiated coverage on Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They issued a "buy" rating and a $35.00 price objective on the stock. Finally, Oppenheimer initiated coverage on Centessa Pharmaceuticals in a research note on Friday. They issued an "outperform" rating and a $40.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $31.50.

Centessa Pharmaceuticals Price Performance

Shares of CNTA traded up $0.23 on Friday, hitting $16.79. The company's stock had a trading volume of 632,847 shares, compared to its average volume of 1,025,817. The company has a market capitalization of $2.25 billion, a PE ratio of -9.38 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 PLC Sponsored ADR has a fifty-two week low of $9.60 and a fifty-two week high of $19.09. The company has a 50 day moving average price of $15.70 and a 200 day moving average price of $14.44.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). On average, research analysts anticipate that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 55,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $12.63, for a total value of $694,650.00. Following the transaction, the chief executive officer directly owned 221,017 shares in the company, valued at approximately $2,791,444.71. This trade represents a 19.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mario Alberto Accardi sold 15,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $14.00, for a total value of $210,000.00. Following the completion of the transaction, the insider owned 216,485 shares in the company, valued at $3,030,790. The trade was a 6.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,322 shares of company stock valued at $2,472,814 over the last quarter. 7.09% of the stock is owned by insiders.

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.