Morgan Stanley Reaffirms Overweight Rating for Centessa Pharmaceuticals (NASDAQ:CNTA)

Centessa Pharmaceuticals (NASDAQ:CNTA)‘s stock had its “overweight” rating reaffirmed by equities researchers at Morgan Stanley in a note issued to investors on Friday,Benzinga reports. They presently have a $27.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 66.36% from the company’s current price.

CNTA has been the subject of several other reports. Guggenheim restated a “buy” rating on shares of Centessa Pharmaceuticals in a report on Monday, February 10th. TD Cowen initiated coverage on Centessa Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $26.00.

Centessa Pharmaceuticals Price Performance

Shares of NASDAQ:CNTA opened at $16.23 on Friday. Centessa Pharmaceuticals has a 1-year low of $7.75 and a 1-year high of $19.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The business has a fifty day moving average price of $16.47 and a 200-day moving average price of $16.16. The company has a market capitalization of $2.14 billion, a PE ratio of -10.61 and a beta of 1.54.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $17.44, for a total transaction of $959,200.00. Following the transaction, the chief executive officer now directly owns 520,661 shares of the company’s stock, valued at $9,080,327.84. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Tia L. Bush sold 17,813 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $18.00, for a total value of $320,634.00. Following the completion of the transaction, the chief technology officer now directly owns 147,615 shares in the company, valued at approximately $2,657,070. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 359,186 shares of company stock worth $6,017,106 in the last three months. 11.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in Centessa Pharmaceuticals in the 4th quarter worth approximately $31,000. Woodline Partners LP raised its holdings in shares of Centessa Pharmaceuticals by 5.7% during the 4th quarter. Woodline Partners LP now owns 545,645 shares of the company’s stock worth $9,140,000 after acquiring an additional 29,266 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Centessa Pharmaceuticals by 33.2% during the 4th quarter. Squarepoint Ops LLC now owns 26,806 shares of the company’s stock worth $449,000 after acquiring an additional 6,685 shares in the last quarter. Stempoint Capital LP raised its holdings in shares of Centessa Pharmaceuticals by 667.3% during the 4th quarter. Stempoint Capital LP now owns 641,964 shares of the company’s stock worth $10,753,000 after acquiring an additional 558,302 shares in the last quarter. Finally, Shay Capital LLC purchased a new stake in shares of Centessa Pharmaceuticals during the 4th quarter worth approximately $239,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.