David M. Chao Sells 7,000 Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) Stock

Centessa Pharmaceuticals plc (NASDAQ:CNTA) insider David M. Chao sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $17.17, for a total transaction of $120,190.00. Following the completion of the sale, the insider now owns 225,007 shares in the company, valued at approximately $3,863,370.19. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Centessa Pharmaceuticals Trading Down 2.9 %

NASDAQ CNTA opened at $16.29 on Friday. The business’s 50-day moving average price is $16.46 and its two-hundred day moving average price is $16.36. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.15 billion, a PE ratio of -10.65 and a beta of 1.54. Centessa Pharmaceuticals plc has a 12 month low of $7.75 and a 12 month high of $19.09.

Institutional Trading of Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atria Investments Inc lifted its position in shares of Centessa Pharmaceuticals by 7.0% in the 3rd quarter. Atria Investments Inc now owns 17,134 shares of the company’s stock worth $274,000 after purchasing an additional 1,116 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Centessa Pharmaceuticals by 88.1% in the third quarter. The Manufacturers Life Insurance Company now owns 264,969 shares of the company’s stock valued at $4,237,000 after buying an additional 124,075 shares during the period. FMR LLC boosted its position in Centessa Pharmaceuticals by 4.6% during the third quarter. FMR LLC now owns 2,916,494 shares of the company’s stock valued at $46,635,000 after acquiring an additional 129,300 shares during the last quarter. Ally Bridge Group NY LLC bought a new stake in Centessa Pharmaceuticals during the third quarter valued at $4,951,000. Finally, Suvretta Capital Management LLC bought a new position in shares of Centessa Pharmaceuticals in the 3rd quarter worth about $1,119,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

Wall Street Analyst Weigh In

CNTA has been the topic of a number of research reports. TD Cowen began coverage on shares of Centessa Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. Finally, Guggenheim reissued a “buy” rating on shares of Centessa Pharmaceuticals in a research note on Monday, February 10th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $26.00.

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.