Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 5.6% Higher – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shot up 5.6% during mid-day trading on Tuesday . The company traded as high as $17.09 and last traded at $17.00. Approximately 188,480 shares traded hands during trading, a decline of 54% from the average daily volume of 406,131 shares. The stock had previously closed at $16.10.

Analyst Ratings Changes

A number of research firms recently weighed in on CNTA. Jefferies Financial Group upped their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets increased their price objective on 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 Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. Guggenheim increased their price target on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Performance

The company has a market cap of $2.06 billion, a P/E ratio of -11.71 and a beta of 1.47. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $16.03 and its two-hundred day moving average is $12.29.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. Equities analysts predict that Centessa Pharmaceuticals plc will post -1.62 EPS for the current year.

Insider Buying and Selling at Centessa Pharmaceuticals

In related news, CEO Saurabh Saha sold 175,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the sale, the chief executive officer now owns 776,924 shares of the company’s stock, valued at approximately $12,834,784.48. This represents a 18.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory M. Weinhoff sold 25,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.00, for a total value of $375,000.00. Following the sale, the insider now owns 223,369 shares in the company, valued at approximately $3,350,535. This represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 308,158 shares of company stock valued at $5,007,043 over the last three months. 11.59% of the stock is currently owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Centessa Pharmaceuticals by 47.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Centessa Pharmaceuticals by 103.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after buying an additional 1,509 shares during the last quarter. Quarry LP raised 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 valued at $87,000 after buying an additional 3,108 shares in the last quarter. Sandia Investment Management LP bought a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth $90,000. Finally, Fred Alger Management LLC purchased a new position in Centessa Pharmaceuticals in the second quarter worth $99,000. Institutional investors own 82.01% of the company’s stock.

About Centessa Pharmaceuticals

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.