Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 5.6% Higher – Time to Buy?

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares shot up 5.6% during trading on Tuesday . The stock traded as high as $17.09 and last traded at $17.00. 188,480 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 406,131 shares. The stock had previously closed at $16.10.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CNTA shares. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. Jefferies Financial Group increased their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets lifted their target price 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 upped their price target on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, B. Riley started coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Price Performance

The company has a market cap of $2.06 billion, a PE ratio of -11.71 and a beta of 1.47. The business has a 50 day moving average of $16.03 and a 200 day moving average of $12.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.05. As a group, research analysts predict that Centessa Pharmaceuticals plc will post -1.62 EPS for the current year.

Insider Buying and Selling at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 16,619 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $15.69, for a total transaction of $260,752.11. Following the completion of the transaction, the insider now owns 206,750 shares of the company’s stock, valued at $3,243,907.50. This trade represents a 7.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saurabh Saha sold 175,000 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was 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 $12,834,784.48. This trade represents a 18.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 308,158 shares of company stock valued at $5,007,043. 11.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its stake in Centessa Pharmaceuticals by 59.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock valued at $43,168,000 after purchasing an additional 1,778,515 shares during the last quarter. Perceptive Advisors LLC boosted its position in shares of Centessa Pharmaceuticals by 27.6% during the second quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after buying an additional 850,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Centessa Pharmaceuticals by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock worth $33,427,000 after buying an additional 418,615 shares in the last quarter. FMR LLC raised its position in Centessa Pharmaceuticals by 4.6% in the 3rd quarter. FMR LLC now owns 2,916,494 shares of the company’s stock worth $46,635,000 after buying an additional 129,300 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Centessa Pharmaceuticals by 54.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,715,663 shares of the company’s stock valued at $43,423,000 after buying an additional 953,659 shares during the period. 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.