Centessa Pharmaceuticals (NASDAQ:CNTA) Hits New 1-Year High on Better-Than-Expected Earnings

Centessa Pharmaceuticals plc (NASDAQ:CNTA) hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $17.72 and last traded at $17.66, with a volume of 358444 shares trading hands. The stock had previously closed at $16.73.

The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.05.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNTA. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $11.00 to $26.00 in a report on Thursday, September 19th. BMO Capital Markets increased their target price on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Jefferies Financial Group lifted their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Oppenheimer reissued an “outperform” rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Finally, Guggenheim lifted their target price on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $25.17.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 12,198 shares of Centessa Pharmaceuticals stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total value of $148,449.66. Following the sale, the insider now directly owns 241,171 shares in the company, valued at approximately $2,935,051.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Gregory M. Weinhoff sold 12,198 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total transaction of $148,449.66. Following the sale, the insider now directly owns 241,171 shares of the company’s stock, valued at $2,935,051.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saurabh Saha sold 175,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the completion of the transaction, the chief executive officer now directly owns 776,924 shares of the company’s stock, valued at approximately $12,834,784.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 325,031 shares of company stock worth $5,213,043. 11.59% of the stock is owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock worth $40,000 after acquiring an additional 826 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Centessa Pharmaceuticals by 7.0% in the 3rd quarter. Atria Investments Inc now owns 17,134 shares of the company’s stock worth $274,000 after purchasing an additional 1,116 shares during the period. GAMMA Investing LLC increased its position in shares of Centessa Pharmaceuticals by 103.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock valued at $48,000 after purchasing an additional 1,509 shares during the last quarter. Quarry LP raised its holdings in Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after buying an additional 3,108 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Centessa Pharmaceuticals by 99.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,593 shares of the company’s stock worth $217,000 after buying an additional 6,785 shares during the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Centessa Pharmaceuticals Price Performance

The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.05 billion, a PE ratio of -11.82 and a beta of 1.47. The firm’s 50 day simple moving average is $15.81 and its 200 day simple moving average is $12.03.

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.