Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Down – Should You Sell?

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA)’s share price 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. B. Riley raised their price target on shares of Centessa Pharmaceuticals from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Guggenheim boosted their price target on shares of Centessa Pharmaceuticals from $28.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a report on Wednesday, October 8th. Stephens initiated coverage on Centessa Pharmaceuticals in a report on Tuesday, October 28th. They set an “overweight” rating and a $35.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Centessa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.70.

Centessa Pharmaceuticals Stock Performance

The company’s 50-day moving average is $25.42 and its two-hundred day moving average is $19.54. The firm has a market cap of $3.69 billion, a P/E 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 data on Wednesday, November 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). As a group, equities analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, CTO Tia L. Bush sold 40,000 shares of the 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 transaction, the chief technology officer directly owned 121,503 shares of the company’s stock, valued at approximately $3,159,078. This represents a 24.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mario Alberto Accardi sold 10,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the insider owned 178,801 shares of the company’s stock, valued at $5,364,030. This represents a 5.30% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 113,172 shares of company stock valued at $2,820,441. Corporate insiders own 7.09% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

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