Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 4.2% Higher

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price was up 4.2% during mid-day trading on Friday . The stock traded as high as $16.70 and last traded at $16.52. Approximately 125,493 shares traded hands during trading, a decline of 68% from the average daily volume of 386,714 shares. The stock had previously closed at $15.85.

Analysts Set New Price Targets

Several research firms recently weighed in on CNTA. B. Riley initiated coverage on shares of Centessa Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $33.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $26.00 in a research report on Thursday. Jefferies Financial Group raised their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price target on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.17.

Centessa Pharmaceuticals Stock Up 4.6 %

The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $12.41 and a two-hundred day simple moving average of $10.67. The stock has a market capitalization of $1.67 billion, a P/E ratio of -11.68 and a beta of 1.44.

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

Insider Activity

In related news, CEO Saurabh Saha sold 55,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $16.53, for a total transaction of $909,150.00. Following the sale, the chief executive officer now directly owns 721,924 shares in the company, valued at approximately $11,933,403.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Saurabh Saha sold 55,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $16.53, for a total transaction of $909,150.00. Following the transaction, the chief executive officer now owns 721,924 shares in the company, valued at approximately $11,933,403.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gregory M. Weinhoff sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.00, for a total transaction of $375,000.00. Following the completion of the sale, the insider now owns 223,369 shares of the company’s stock, valued at approximately $3,350,535. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 271,873 shares of company stock worth $4,381,150. Insiders own 11.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quarry LP raised its position in shares of Centessa Pharmaceuticals by 47.8% during the second quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after acquiring an additional 3,108 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Centessa Pharmaceuticals by 69.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,817 shares of the company’s stock valued at $122,000 after purchasing an additional 4,423 shares during the period. EntryPoint Capital LLC acquired a new position in Centessa Pharmaceuticals during the 1st quarter valued at about $109,000. Sandia Investment Management LP bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $90,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth approximately $99,000. 82.01% of the stock is currently owned by institutional investors.

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.