Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Up 8.4% Following Better-Than-Expected Earnings

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price shot up 8.4% on Wednesday following a better than expected earnings announcement. The stock traded as high as $18.55 and last traded at $18.42. 252,708 shares were traded during trading, a decline of 36% from the average session volume of 397,666 shares. The stock had previously closed at $17.00.

The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05.

Analyst Ratings Changes

A number of research analysts have weighed in on CNTA shares. Guggenheim increased their price target on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group increased their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. B. Riley started coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They set a “buy” rating and a $33.00 price target on the stock. Oppenheimer reissued an “outperform” rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Finally, Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $25.17.

Insider Buying and Selling

In related news, insider Gregory M. Weinhoff sold 12,198 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the completion of the sale, the insider now directly owns 241,171 shares in the company, valued at approximately $2,935,051.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gregory M. Weinhoff sold 12,198 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the completion of the sale, the insider now directly owns 241,171 shares in the company, valued at approximately $2,935,051.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saurabh Saha sold 2,592 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.32, for a total value of $39,709.44. Following the completion of the sale, the chief executive officer now owns 630,661 shares of the company’s stock, valued at approximately $9,661,726.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 325,031 shares of company stock valued at $5,213,043. 11.59% of the stock is currently owned by company insiders.

Institutional Trading of Centessa Pharmaceuticals

Large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after acquiring an additional 826 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Centessa Pharmaceuticals by 103.1% during the third quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock valued at $48,000 after acquiring an additional 1,509 shares in the last quarter. Quarry LP grew its stake in shares of Centessa Pharmaceuticals by 47.8% during the second quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after acquiring an additional 3,108 shares in the last quarter. Sandia Investment Management LP acquired a new position in Centessa Pharmaceuticals in the second quarter worth about $90,000. Finally, Fred Alger Management LLC acquired a new position in Centessa Pharmaceuticals in the second quarter worth about $99,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Centessa Pharmaceuticals Stock Up 6.4 %

The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -11.82 and a beta of 1.47. The stock has a 50 day moving average of $15.81 and a 200 day moving average of $12.03. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27.

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.