Centessa Pharmaceuticals plc (NASDAQ:CNTA) CEO Saurabh Saha Sells 55,000 Shares

Centessa Pharmaceuticals plc (NASDAQ:CNTA) CEO Saurabh Saha sold 55,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $16.69, for a total value of $917,950.00. Following the sale, the chief executive officer now directly owns 276,017 shares of the company’s stock, valued at $4,606,723.73. The trade was a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Saurabh Saha also recently made the following trade(s):

• On Thursday, February 20th, Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock. The stock was sold at an average price of $15.93, for a total value of $876,150.00.
• On Tuesday, January 21st, Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock. The shares were sold at an average price of $15.77, for a total value of $867,350.00.

Centessa Pharmaceuticals Price Performance

Shares of CNTA traded down $0.54 during midday trading on Friday, hitting $15.75. 1,555,582 shares of the company traded hands, compared to its average volume of 524,057. The firm has a 50 day moving average of $16.46 and a 200-day moving average of $16.36. Centessa Pharmaceuticals plc has a 52 week low of $7.75 and a 52 week high of $19.09. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -10.29 and a beta of 1.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Centessa Pharmaceuticals

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

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.