Centessa Pharmaceuticals (NASDAQ:CNTA) Price Target Increased to $24.00 by Analysts at Guggenheim

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price objective raised by Guggenheim from $20.00 to $24.00 in a report published on Wednesday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research firms also recently weighed in on CNTA. Oppenheimer reissued an outperform rating and set a $14.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. BMO Capital Markets lifted their target price on Centessa Pharmaceuticals from $15.00 to $20.00 and gave the stock an outperform rating in a report on Monday. Jefferies Financial Group lifted their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a buy rating in a report on Wednesday. Finally, Morgan Stanley lifted their target price on Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an equal weight rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $17.60.

Centessa Pharmaceuticals Trading Down 5.7 %

Shares of Centessa Pharmaceuticals stock opened at $13.75 on Wednesday. The business has a fifty day simple moving average of $11.46 and a two-hundred day simple moving average of $10.42. Centessa Pharmaceuticals has a 1 year low of $5.15 and a 1 year high of $17.25. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -9.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 13.29 and a quick ratio of 13.29.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Research analysts forecast that Centessa Pharmaceuticals will post -1.61 EPS for the current year.

Insider Activity at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 25,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $15.00, for a total value of $375,000.00. Following the completion of the transaction, the insider now owns 223,369 shares of the company’s stock, valued at $3,350,535. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 4,169 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the transaction, the chief executive officer now owns 827,755 shares in the company, valued at $10,197,941.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory M. Weinhoff sold 25,000 shares of Centessa Pharmaceuticals stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.00, for a total value of $375,000.00. Following the completion of the transaction, the insider now owns 223,369 shares in the company, valued at approximately $3,350,535. The disclosure for this sale can be found here. Insiders sold a total of 41,873 shares of company stock valued at $581,000 over the last quarter. 11.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in Centessa Pharmaceuticals by 34.1% in the fourth quarter. Franklin Resources Inc. now owns 1,115,817 shares of the company’s stock valued at $8,882,000 after acquiring an additional 283,469 shares during the last quarter. Platinum Investment Management Ltd. grew its holdings in shares of Centessa Pharmaceuticals by 12.9% during the fourth quarter. Platinum Investment Management Ltd. now owns 381,083 shares of the company’s stock worth $3,033,000 after purchasing an additional 43,539 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Centessa Pharmaceuticals by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock worth $33,427,000 after purchasing an additional 418,615 shares during the last quarter. Octagon Capital Advisors LP grew its holdings in shares of Centessa Pharmaceuticals by 333.2% during the fourth quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock worth $16,398,000 after purchasing an additional 1,584,500 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Centessa Pharmaceuticals during the first quarter worth about $330,000. 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 to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.