Centessa Pharmaceuticals snaps multi-day losing streak; up 10%

Oct. 20, 2022 2:54 PM ETCentessa Pharmaceuticals plc (CNTA)By: Jonathan Block, SA News Editor

Trading Charts on a Display

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  • For the first time since Oct. 13, Centessa Pharmaceuticals (NASDAQ:CNTA) is showing gains.
  • In Thursday afternoon trading, the biotech is up 10%.
  • There is no news or other catalysts that might explain the jump.
  • However, based on a technical analysis, Centessa (CNTA) deviated two standard deviations lower from its mean touching its lower Bollinger Band level and has snapped up higher, back to its mean level.
  • From market close Oct. 13 through market close Oct. 19, shares fell ~15%.
  • Seeking Alpha views Centessa (CNTA) as a hold with high marks for valuation and growth.

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