Wall Street Zen Upgrades Centessa Pharmaceuticals (NASDAQ:CNTA) to Hold

Centessa Pharmaceuticals (NASDAQ:CNTA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts have also recently weighed in on CNTA. Truist Financial started coverage on Centessa Pharmaceuticals in a research report on Monday, July 21st. They set a “buy” rating and a $30.00 price objective on the stock. Oppenheimer started coverage on Centessa Pharmaceuticals in a research report on Friday, August 29th. They set an “outperform” rating and a $40.00 price objective on the stock. Chardan Capital reaffirmed a “buy” rating and set a $30.00 price objective on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. Lifesci Capital raised Centessa Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.38.

Centessa Pharmaceuticals Stock Down 2.3%

CNTA stock opened at $22.31 on Friday. Centessa Pharmaceuticals has a twelve month low of $9.60 and a twelve month high of $24.57. The company has a quick ratio of 10.12, a current ratio of 10.11 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.99 billion, a P/E ratio of -12.46 and a beta of 1.57. The business’s 50-day moving average price is $19.77 and its 200-day moving average price is $15.57.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). On average, equities research analysts forecast that Centessa Pharmaceuticals will post -1.6 EPS for the current year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $15.56, for a total value of $155,600.00. Following the sale, the insider owned 122,279 shares of the company’s stock, valued at $1,902,661.24. The trade was a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $21.85, for a total value of $131,100.00. Following the completion of the sale, the general counsel directly owned 105,386 shares in the company, valued at approximately $2,302,684.10. The trade was a 5.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,286 shares of company stock worth $3,993,345 over the last quarter. Company insiders own 7.09% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in CNTA. Adage Capital Partners GP L.L.C. increased its stake in Centessa Pharmaceuticals by 35.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company’s stock worth $99,999,000 after acquiring an additional 1,834,973 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Centessa Pharmaceuticals in the 2nd quarter worth approximately $16,052,000. Commodore Capital LP increased its stake in Centessa Pharmaceuticals by 39.3% in the 2nd quarter. Commodore Capital LP now owns 3,298,289 shares of the company’s stock worth $43,340,000 after acquiring an additional 930,711 shares during the last quarter. Stempoint Capital LP increased its stake in Centessa Pharmaceuticals by 113.3% in the 2nd quarter. Stempoint Capital LP now owns 1,265,672 shares of the company’s stock worth $16,631,000 after acquiring an additional 672,337 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in Centessa Pharmaceuticals in the 1st quarter worth approximately $6,730,000. 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.