Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 5.5% Higher

Centessa Pharmaceuticals plc (NASDAQ:CNTA) rose 5.5% on Friday . The company traded as high as $17.46 and last traded at $15.93. Approximately 359,792 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 365,143 shares. The stock had previously closed at $15.10.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. BMO Capital Markets increased their price target on Centessa Pharmaceuticals from $15.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Guggenheim increased their target price on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley upped their price objective on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, June 21st. Jefferies Financial Group raised their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and issued a $14.00 target price on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.60.

Centessa Pharmaceuticals Stock Up 12.5 %

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 firm has a 50 day moving average of $11.76 and a two-hundred day moving average of $10.48. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -11.96 and a beta of 1.44.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). As a group, sell-side analysts anticipate that Centessa Pharmaceuticals plc will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Saurabh Saha sold 175,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total value of $2,891,000.00. Following the completion of the transaction, the chief executive officer now directly owns 776,924 shares in the company, valued at approximately $12,834,784.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $15.00, for a total transaction of $375,000.00. Following the sale, the insider now directly owns 223,369 shares of the company’s stock, valued at approximately $3,350,535. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saurabh Saha sold 175,000 shares of the firm’s stock in a transaction 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 quarter, insiders have sold 216,873 shares of company stock valued at $3,472,000. 11.59% of the stock is currently owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in shares of Centessa Pharmaceuticals by 34.1% in the 4th quarter. Franklin Resources Inc. now owns 1,115,817 shares of the company’s stock valued at $8,882,000 after buying an additional 283,469 shares during the last quarter. Platinum Investment Management Ltd. lifted its stake in shares of Centessa Pharmaceuticals by 12.9% in the fourth quarter. Platinum Investment Management Ltd. now owns 381,083 shares of the company’s stock worth $3,033,000 after acquiring an additional 43,539 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Centessa Pharmaceuticals by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock valued at $33,427,000 after acquiring an additional 418,615 shares during the last quarter. Octagon Capital Advisors LP increased its position in Centessa Pharmaceuticals by 333.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock valued at $16,398,000 after purchasing an additional 1,584,500 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Centessa Pharmaceuticals during the 1st quarter worth approximately $330,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

About Centessa Pharmaceuticals

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.