Insider Selling: Centessa Pharmaceuticals (NASDAQ:CNTA) General Counsel Sells 6,000 Shares of Stock

Key Points

• General Counsel Iqbal Hussain sold 6,000 shares of Centessa Pharmaceuticals at $21.85 each, resulting in a total transaction value of $131,100, and now holds 105,386 shares.
• Centessa Pharmaceuticals' stock has increased by 1.0% recently, trading at $22.02, with a 52-week range of $9.60 to $23.24.
• Several analysts have assigned a "buy" rating to the company, with price targets ranging from $30.00 to $35.00, indicating positive market sentiment for the stock.

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) General Counsel Iqbal Hussain sold 6,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $21.85, for a total transaction of $131,100.00. Following the transaction, the general counsel owned 105,386 shares in the company, valued at $2,302,684.10. The trade was a 5.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Centessa Pharmaceuticals Stock Up 1.0%

NASDAQ:CNTA traded up $0.21 during mid-day trading on Monday, hitting $22.02. 857,960 shares of the stock traded hands, compared to its average volume of 1,413,042. Centessa Pharmaceuticals PLC Sponsored ADR has a 52 week low of $9.60 and a 52 week high of $23.24. The firm's 50 day moving average is $16.74 and its two-hundred day moving average is $14.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.12 and a current ratio of 10.11.

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

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. increased its position in Centessa Pharmaceuticals by 35.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company's stock worth $99,999,000 after purchasing an additional 1,834,973 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Centessa Pharmaceuticals during the second quarter worth about $16,052,000. Commodore Capital LP increased its position in Centessa Pharmaceuticals by 39.3% during the second quarter. Commodore Capital LP now owns 3,298,289 shares of the company's stock worth $43,340,000 after purchasing an additional 930,711 shares during the last quarter. Stempoint Capital LP increased its position in Centessa Pharmaceuticals by 113.3% during the second quarter. Stempoint Capital LP now owns 1,265,672 shares of the company's stock worth $16,631,000 after purchasing an additional 672,337 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in Centessa Pharmaceuticals during the first quarter worth about $6,730,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNTA. Truist Financial began coverage on shares of Centessa Pharmaceuticals in a research report on Monday, July 21st. They issued a "buy" rating and a $30.00 price target for the company. Wells Fargo & Company initiated coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, September 3rd. They set an "overweight" rating and a $31.00 price target on the stock. Lifesci Capital upgraded shares of Centessa Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, September 3rd. Needham & Company LLC initiated 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. Finally, Wall Street Zen downgraded shares of Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to MarketBeat.com, Centessa Pharmaceuticals presently has an average rating of "Buy" and an average target price of $32.70.

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.

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