Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Up 4.3% – Here’s Why

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

Wall Street Analysts Forecast Growth

CNTA has been the subject of several analyst reports. BMO Capital Markets lifted their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Guggenheim raised their target price on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group boosted their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $11.00 to $26.00 in a report on Thursday, September 19th. Finally, B. Riley initiated coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, September 19th. They set a “buy” rating and a $33.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $25.83.

Centessa Pharmaceuticals Stock Up 6.3 %

The firm’s fifty day moving average price is $16.58 and its two-hundred day moving average price is $13.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -11.47 and a beta of 1.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued 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. Sell-side analysts forecast that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Saurabh Saha sold 87,496 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $18.46, for a total value of $1,615,176.16. Following the transaction, the chief executive officer now owns 575,661 shares in the company, valued at $10,626,702.06. The trade was a 13.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Iqbal J. Hussain sold 77,705 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $16.39, for a total value of $1,273,584.95. Following the sale, the general counsel now directly owns 125,785 shares of the company’s stock, valued at $2,061,616.15. The trade was a 38.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 374,642 shares of company stock worth $6,375,876 over the last 90 days. 11.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new stake in shares of Centessa Pharmaceuticals in the second quarter valued at $4,064,000. Wellington Management Group LLP bought a new stake in Centessa Pharmaceuticals in the 3rd quarter valued at about $1,609,000. Ally Bridge Group NY LLC purchased a new stake in Centessa Pharmaceuticals during the third quarter valued at about $4,951,000. Driehaus Capital Management LLC increased its stake in shares of Centessa Pharmaceuticals by 89.5% in the second quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after purchasing an additional 987,997 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Centessa Pharmaceuticals by 66.1% in the third quarter. GSA Capital Partners LLP now owns 93,658 shares of the company’s stock valued at $1,498,000 after purchasing an additional 37,275 shares during the period. Institutional investors own 82.01% of the company’s stock.

Centessa Pharmaceuticals Company Profile

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.