Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – Here’s What Happened

Shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) gapped down before the market opened on Thursday . The stock had previously closed at $29.57, but opened at $26.69. Centessa Pharmaceuticals shares last traded at $27.5740, with a volume of 1,709,307 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on CNTA. Oppenheimer raised their price target on shares of Centessa Pharmaceuticals from $40.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday. Chardan Capital upgraded Centessa Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Guggenheim raised their price objective on Centessa Pharmaceuticals from $28.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Truist Financial set a $30.00 target price on Centessa Pharmaceuticals in a research note on Wednesday, November 5th. Finally, Stephens initiated coverage on shares of Centessa Pharmaceuticals in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $37.70.

Centessa Pharmaceuticals Stock Performance

The firm’s fifty day moving average price is $25.42 and its 200 day moving average price is $19.54. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -15.02 and a beta of 1.55. The company has a current ratio of 10.56, a quick ratio of 10.57 and a debt-to-equity ratio of 0.36.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). Analysts forecast that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In related news, General Counsel Iqbal J. Hussain sold 6,000 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $22.41, for a total transaction of $134,460.00. Following the completion of the sale, the general counsel owned 105,386 shares in the company, valued at $2,361,700.26. This represents a 5.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Tia L. Bush sold 40,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $26.00, for a total transaction of $1,040,000.00. Following the completion of the sale, the chief technology officer owned 121,503 shares of the company’s stock, valued at $3,159,078. This trade represents a 24.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 113,172 shares of company stock worth $2,820,441. Corporate insiders own 7.09% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Several large investors have recently bought and sold shares of CNTA. Tudor Investment Corp ET AL lifted its stake in shares of Centessa Pharmaceuticals by 13.7% during the third quarter. Tudor Investment Corp ET AL now owns 57,810 shares of the company’s stock valued at $1,402,000 after buying an additional 6,959 shares during the period. TCG Crossover Management LLC raised its holdings in Centessa Pharmaceuticals by 8.5% in the 3rd quarter. TCG Crossover Management LLC now owns 3,136,480 shares of the company’s stock valued at $76,060,000 after acquiring an additional 245,664 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Centessa Pharmaceuticals during the 3rd quarter worth $2,772,000. Jain Global LLC purchased a new position in shares of Centessa Pharmaceuticals during the 3rd quarter worth $5,868,000. Finally, HighVista Strategies LLC boosted its holdings in shares of Centessa Pharmaceuticals by 55.6% during the third quarter. HighVista Strategies LLC now owns 63,301 shares of the company’s stock worth $1,535,000 after purchasing an additional 22,617 shares during the last quarter. Institutional investors and hedge funds 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.