Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Up 4.3% – What’s Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA) traded up 4.3% during trading on Tuesday . The stock traded as high as $17.47 and last traded at $17.47. 90,922 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 428,566 shares. The stock had previously closed at $16.75.

Analysts Set New Price Targets

CNTA has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Guggenheim upped 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 raised their price target on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Morgan Stanley raised shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $11.00 to $26.00 in a report on Thursday, September 19th. Finally, B. Riley assumed coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They set a “buy” rating and a $33.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Centessa Pharmaceuticals has an average rating of “Buy” and a consensus price target of $25.83.

Centessa Pharmaceuticals Price Performance

The company has a market capitalization of $2.31 billion, a P/E ratio of -11.47 and a beta of 1.52. 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 business’s fifty day moving average price is $16.58 and its 200-day moving average price is $13.49.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. As a group, sell-side analysts predict that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gregory M. Weinhoff sold 16,619 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $15.69, for a total transaction of $260,752.11. Following the transaction, the insider now directly owns 206,750 shares in the company, valued at $3,243,907.50. This trade represents a 7.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the business’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 sale, the chief executive officer now owns 721,924 shares of the company’s stock, valued at $11,933,403.72. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,642 shares of company stock valued at $6,375,876 over the last quarter. 11.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. HighMark Wealth Management LLC bought a new position in shares of Centessa Pharmaceuticals during the second quarter valued at approximately $840,000. TD Asset Management Inc raised its position in shares of Centessa Pharmaceuticals by 40.5% in the 2nd quarter. TD Asset Management Inc now owns 321,168 shares of the company’s stock worth $2,900,000 after purchasing an additional 92,524 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Centessa Pharmaceuticals by 1.3% during the second quarter. American Century Companies Inc. now owns 935,151 shares of the company’s stock valued at $8,444,000 after buying an additional 12,031 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter worth $148,000. Finally, Farallon Capital Management LLC increased its holdings in Centessa Pharmaceuticals by 438.0% during the second quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock valued at $18,024,000 after buying an additional 1,625,000 shares during the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.