Centessa Pharmaceuticals (NASDAQ:CNTA) Sees Large Volume Increase

Centessa Pharmaceuticals plc (NASDAQ:CNTA) saw an uptick in trading volume on Friday . 705,755 shares changed hands during trading, an increase of 126% from the previous session’s volume of 312,822 shares.The stock last traded at $12.79 and had previously closed at $12.20.

Analysts Set New Price Targets

CNTA has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, June 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th.

Centessa Pharmaceuticals Stock Performance

The company has a market capitalization of $1.29 billion, a PE ratio of -9.05 and a beta of 1.40. The stock’s fifty day simple moving average is $10.09 and its 200-day simple moving average is $10.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 10.37 and a current ratio of 10.37.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). As a group, equities analysts predict that Centessa Pharmaceuticals plc will post -1.62 earnings per share for the current year.

Insider Transactions at Centessa Pharmaceuticals

In related news, CEO Saurabh Saha sold 4,169 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the completion of the transaction, the chief executive officer now directly owns 827,755 shares in the company, valued at $10,197,941.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nantahala Capital Management LLC acquired a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth $4,064,000. Perceptive Advisors LLC increased its stake in Centessa Pharmaceuticals by 27.6% during the second quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock worth $35,518,000 after acquiring an additional 850,000 shares during the last quarter. Quarry LP increased its stake 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 acquiring an additional 3,108 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Centessa Pharmaceuticals by 89.5% in the 2nd 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 during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Centessa Pharmaceuticals by 30.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 140,894 shares of the company’s stock valued at $1,272,000 after purchasing an additional 32,846 shares in the last quarter. Institutional investors and hedge funds 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 to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.