Centessa Pharmaceuticals (NASDAQ:CNTA) Announces Earnings Results

Centessa Pharmaceuticals (NASDAQ:CNTA) announced its quarterly earnings data on Wednesday. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02), Zacks reports.

Centessa Pharmaceuticals Stock Performance

CNTA traded down $0.71 on Friday, reaching $22.12. The stock had a trading volume of 1,936,048 shares, compared to its average volume of 1,326,483. The company has a current ratio of 10.56, a quick ratio of 10.12 and a debt-to-equity ratio of 0.36. Centessa Pharmaceuticals has a 12-month low of $9.60 and a 12-month high of $25.42. The business’s 50-day moving average price is $22.30 and its two-hundred day moving average price is $17.10. The company has a market cap of $2.96 billion, a P/E ratio of -12.09 and a beta of 1.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CNTA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a report on Wednesday, October 8th. Truist Financial set a $30.00 target price on Centessa Pharmaceuticals in a report on Wednesday. Stephens began coverage on Centessa Pharmaceuticals in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $35.00 target price on the stock. Lifesci Capital upgraded Centessa Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Centessa Pharmaceuticals in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.56.

Insider Buying and Selling at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, insider Mario Alberto Accardi sold 8,000 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $25.00, for a total transaction of $200,000.00. Following the completion of the transaction, the insider directly owned 194,394 shares in the company, valued at approximately $4,859,850. This represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $22.41, for a total transaction of $134,460.00. Following the transaction, the general counsel directly owned 105,386 shares in the company, valued at approximately $2,361,700.26. The trade was a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 145,964 shares of company stock valued at $3,169,861. Company insiders own 7.09% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Several large investors have recently added to or reduced their stakes in CNTA. The Manufacturers Life Insurance Company lifted its holdings in Centessa Pharmaceuticals by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 317,574 shares of the company’s stock worth $4,173,000 after buying an additional 14,928 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Centessa Pharmaceuticals by 29.2% in the 2nd quarter. Legal & General Group Plc now owns 98,256 shares of the company’s stock valued at $1,291,000 after buying an additional 22,205 shares during the period. Exome Asset Management LLC increased its holdings in Centessa Pharmaceuticals by 17.0% in the second quarter. Exome Asset Management LLC now owns 166,944 shares of the company’s stock valued at $2,194,000 after buying an additional 24,200 shares in the last quarter. Geode Capital Management LLC raised its position in Centessa Pharmaceuticals by 44.7% during the second quarter. Geode Capital Management LLC now owns 87,435 shares of the company’s stock worth $1,149,000 after acquiring an additional 26,994 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Centessa Pharmaceuticals by 3,028.1% during the second quarter. BNP Paribas Financial Markets now owns 34,972 shares of the company’s stock worth $460,000 after acquiring an additional 33,854 shares during the last quarter. 82.01% of the stock is currently 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.