Centessa Pharmaceuticals (NASDAQ:CNTA) Sees Unusually-High Trading Volume – Here’s Why

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) shares saw unusually-strong trading volume on Thursday . Approximately 1,975,302 shares changed hands during mid-day trading, a decline of 5% from the previous session’s volume of 2,074,203 shares.The stock last traded at $39.8250 and had previously closed at $39.87.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Leerink Partners downgraded shares of Centessa Pharmaceuticals from an “outperform” rating to a “hold” rating and boosted their target price for the company from $36.00 to $40.00 in a research report on Wednesday, April 1st. Lifesci Capital lowered shares of Centessa Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Guggenheim lowered shares of Centessa Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Truist Financial downgraded shares of Centessa Pharmaceuticals from a “buy” rating to a “hold” rating and set a $38.00 price target on the stock. in a report on Monday, April 13th. Finally, Needham & Company LLC downgraded shares of Centessa Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.33.

Centessa Pharmaceuticals Stock Performance

The firm has a market capitalization of $6.17 billion, a PE ratio of -22.30 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 9.53 and a quick ratio of 9.53. The company’s fifty day simple moving average is $39.65 and its 200 day simple moving average is $31.11.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.14). As a group, equities research analysts expect that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.65 EPS for the current fiscal year.

Insider Activity

In other news, insider Karen M. Anderson sold 41,076 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $30.12, for a total value of $1,237,209.12. Following the sale, the insider directly owned 62,085 shares of the company’s stock, valued at approximately $1,870,000.20. This represents a 39.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.09% of the company’s stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of CNTA. TD Waterhouse Canada Inc. purchased a new stake in shares of Centessa Pharmaceuticals in the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Centessa Pharmaceuticals in the fourth quarter worth about $36,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Centessa Pharmaceuticals by 7,580.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,536 shares of the company’s stock worth $39,000 after buying an additional 1,516 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Centessa Pharmaceuticals by 42.4% in the fourth quarter. Wells Fargo & Company MN now owns 3,387 shares of the company’s stock worth $85,000 after buying an additional 1,008 shares in the last quarter. Finally, Knott David M Jr bought a new position in shares of Centessa Pharmaceuticals in the fourth quarter worth approximately $100,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals plc is a global clinical?stage biopharmaceutical company focused on the discovery and development of innovative therapies across multiple disease areas. The company operates a modular R&D network, bringing together a portfolio of independent, specialist research entities under a single corporate umbrella. This structure is designed to accelerate decision?making and resource allocation while leveraging deep scientific expertise in each therapeutic domain.

Centessa’s pipeline spans oncology, immunology, neuroscience, cardiovascular and metabolic diseases, as well as rare genetic disorders.