Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Up 6.2% – Here’s Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA) rose 6.2% during mid-day trading on Tuesday . The stock traded as high as $17.00 and last traded at $16.98. Approximately 323,556 shares were traded during trading, a decline of 19% from the average daily volume of 398,789 shares. The stock had previously closed at $15.99.

Analyst Ratings Changes

CNTA has been the topic of several research analyst reports. BMO Capital Markets increased their target price on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Morgan Stanley raised shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. Oppenheimer reissued an “outperform” rating and set a $14.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Jefferies Financial Group increased their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Guggenheim upped their price objective on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $25.17.

Centessa Pharmaceuticals Stock Performance

The company’s fifty day moving average price is $13.41 and its 200 day moving average price is $10.96. The company has a market cap of $1.60 billion, a PE ratio of -11.18 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 earnings results on Tuesday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). On average, equities research analysts predict that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Saurabh Saha sold 175,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total value of $2,891,000.00. Following the sale, the chief executive officer now owns 776,924 shares of the company’s stock, valued at $12,834,784.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Gregory M. Weinhoff sold 16,619 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $15.69, for a total value of $260,752.11. Following the sale, the insider now owns 206,750 shares of the company’s stock, valued at $3,243,907.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Saurabh Saha sold 175,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the transaction, the chief executive officer now directly owns 776,924 shares of the company’s stock, valued at approximately $12,834,784.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,492 shares of company stock worth $4,641,902. Insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Platinum Investment Management Ltd. grew its stake in Centessa Pharmaceuticals by 12.9% during the fourth quarter. Platinum Investment Management Ltd. now owns 381,083 shares of the company’s stock valued at $3,033,000 after acquiring an additional 43,539 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Centessa Pharmaceuticals by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock worth $33,427,000 after buying an additional 418,615 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Centessa Pharmaceuticals in the 2nd quarter worth approximately $4,064,000. Driehaus Capital Management LLC grew its stake in Centessa Pharmaceuticals by 89.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after buying an additional 987,997 shares in the last quarter. Finally, Octagon Capital Advisors LP grew its stake in Centessa Pharmaceuticals by 333.2% in the 4th quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock worth $16,398,000 after buying an additional 1,584,500 shares in the last quarter. Hedge funds and other 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.