Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Up 6.2%

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

Analysts Set New Price Targets

Several equities analysts recently commented on CNTA shares. Guggenheim upped their price target on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets upped their price target on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. B. Riley began coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target on the stock. Jefferies Financial Group increased their price objective 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, Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective 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, the stock currently has a consensus rating of “Buy” and an average target price of $25.17.

Centessa Pharmaceuticals Price Performance

The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -12.06 and a beta of 1.44. 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’s 50 day simple moving average is $13.14 and its 200-day simple moving average is $10.88.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). On average, research analysts forecast that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current year.

Insider Transactions at Centessa Pharmaceuticals

In related news, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $16.53, for a total value of $909,150.00. Following the completion of 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 document filed with the SEC, which can be accessed through this link. In related news, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $16.53, for a total value of $909,150.00. Following the completion of 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 document filed with the SEC, which can be accessed through this link. Also, insider Gregory M. Weinhoff sold 16,619 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $15.69, for a total transaction of $260,752.11. Following the sale, the insider now directly owns 206,750 shares of the company’s stock, valued at approximately $3,243,907.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,492 shares of company stock valued at $4,641,902. 11.59% of the stock is currently owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNTA. Nantahala Capital Management LLC acquired a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth approximately $4,064,000. Perceptive Advisors LLC grew its position in shares of Centessa Pharmaceuticals by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock worth $35,518,000 after buying an additional 850,000 shares during the period. Quarry LP grew its position in shares of Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after buying an additional 3,108 shares during the period. Driehaus Capital Management LLC grew its position in shares of Centessa Pharmaceuticals by 89.5% during 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 during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Centessa Pharmaceuticals by 30.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 140,894 shares of the company’s stock worth $1,272,000 after buying an additional 32,846 shares during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

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.