Short Interest in Centessa Pharmaceuticals plc (NASDAQ:CNTA) Increases By 37.3%

Centessa Pharmaceuticals plc (NASDAQ:CNTA) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 3,350,000 shares, a growth of 37.3% from the November 15th total of 2,440,000 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average trading volume of 680,400 shares, the short-interest ratio is presently 4.9 days.

Centessa Pharmaceuticals Trading Down 1.8 %

CNTA stock traded down $0.30 during midday trading on Friday, hitting $16.57. The stock had a trading volume of 873,593 shares, compared to its average volume of 429,306. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.18 billion, a P/E ratio of -10.83 and a beta of 1.52. The business has a fifty day moving average price of $16.50 and a two-hundred day moving average price of $13.30. Centessa Pharmaceuticals has a 1-year low of $6.65 and a 1-year high of $18.97.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. On average, sell-side analysts predict that Centessa Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 1,671 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.24, for a total transaction of $30,479.04. Following the transaction, the chief executive officer now owns 575,661 shares in the company, valued at $10,500,056.64. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory M. Weinhoff sold 16,619 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $15.69, for a total value of $260,752.11. Following the completion of the transaction, the insider now directly owns 206,750 shares of the company’s stock, valued at approximately $3,243,907.50. This trade represents a 7.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 262,624 shares of company stock worth $4,497,698 over the last three months. Insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. B. Riley began coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They set a “buy” rating and a $33.00 price target on the stock. Guggenheim boosted their target price on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, November 15th. 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 report on Monday, September 16th. Jefferies Financial Group lifted their price target 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. Finally, Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $26.00 in a report on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals has an average rating of “Buy” and an average price target of $25.83.

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.