T. Rowe Price Investment Management Inc. Cuts Stake in Centessa Pharmaceuticals PLC Sponsored ADR $CNTA

Key Points

• T. Rowe Price Investment Management Inc. cut its stake in Centessa Pharmaceuticals by 48.7%, reducing their ownership to approximately 1.32% of the company, valued at $25 million.
• Other institutional investors, such as Janus Henderson Group PLC and Point72 Asset Management, increased their stakes significantly during the same period, indicating varying investor sentiment towards Centessa Pharmaceuticals.
• Centessa Pharmaceuticals recently reported earnings of ($0.38) per share, missing estimates, while analysts forecast a consensus rating of "Buy" with an average price target of $28.10.

T. Rowe Price Investment Management Inc. lowered its stake in shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 48.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,753,248 shares of the company's stock after selling 1,665,352 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.32% of Centessa Pharmaceuticals worth $25,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CNTA. Janus Henderson Group PLC increased its stake in shares of Centessa Pharmaceuticals by 279.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company's stock worth $82,218,000 after purchasing an additional 3,614,623 shares in the last quarter. Foresite Capital Management VI LLC purchased a new stake in shares of Centessa Pharmaceuticals during the fourth quarter worth about $20,994,000. Point72 Asset Management L.P. increased its stake in shares of Centessa Pharmaceuticals by 26.2% during the fourth quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company's stock worth $57,396,000 after purchasing an additional 710,936 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Centessa Pharmaceuticals by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company's stock worth $89,854,000 after purchasing an additional 685,371 shares in the last quarter. Finally, Farallon Capital Management LLC increased its stake in shares of Centessa Pharmaceuticals by 24.3% during the fourth quarter. Farallon Capital Management LLC now owns 3,498,709 shares of the company's stock worth $58,603,000 after purchasing an additional 684,391 shares in the last quarter. Hedge funds and other institutional investors own 82.01% of the company's stock.

Centessa Pharmaceuticals Stock Performance

NASDAQ:CNTA opened at $17.01 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.11 and a quick ratio of 10.12. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -9.50 and a beta of 1.48. The company's 50-day moving average is $15.28 and its two-hundred day moving average is $14.51. Centessa Pharmaceuticals PLC Sponsored ADR has a 1-year low of $9.60 and a 1-year high of $19.09.

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

Insider Activity

In other Centessa Pharmaceuticals news, insider Mario Alberto Accardi sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $14.00, for a total value of $210,000.00. Following the transaction, the insider directly owned 216,485 shares in the company, valued at $3,030,790. The trade was a 6.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gregory M. Weinhoff sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $13.86, for a total transaction of $138,600.00. Following the completion of the transaction, the insider owned 122,279 shares in the company, valued at $1,694,786.94. The trade was a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,322 shares of company stock valued at $2,601,014. Company insiders own 7.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CNTA shares. Truist Financial assumed coverage on shares of Centessa Pharmaceuticals in a research note on Monday, July 21st. They set a "buy" rating and a $30.00 target price for the company. Needham & Company LLC assumed coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a "buy" rating and a $35.00 price objective for the company. Chardan Capital reaffirmed a "buy" rating and set a $30.00 price objective on shares of Centessa Pharmaceuticals in a research note on Tuesday, August 12th. Wall Street Zen cut shares of Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, May 8th. They set an "outperform" rating and a $6.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $28.10.

Centessa Pharmaceuticals 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.