Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 6.8% Higher – Here’s Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA) shares traded up 6.8% during trading on Tuesday . The stock traded as high as $16.12 and last traded at $16.19. 198,956 shares were traded during mid-day trading, a decline of 60% from the average session volume of 496,576 shares. The stock had previously closed at $15.16.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen assumed coverage on Centessa Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating on the stock. Guggenheim raised their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Performance

The stock has a market cap of $2.17 billion, a PE ratio of -10.75 and a beta of 1.53. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $16.84 and a 200 day moving average of $14.72.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. Equities analysts predict that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Saurabh Saha sold 2,592 shares of Centessa Pharmaceuticals stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.32, for a total value of $39,709.44. Following the completion of the sale, the chief executive officer now directly owns 630,661 shares of the company’s stock, valued at approximately $9,661,726.52. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Tia L. Bush sold 17,813 shares of Centessa Pharmaceuticals stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $18.00, for a total value of $320,634.00. Following the completion of the sale, the chief technology officer now directly owns 147,615 shares of the company’s stock, valued at $2,657,070. The trade was a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,818 shares of company stock worth $6,076,475. 11.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of institutional investors have recently modified their holdings of CNTA. First Light Asset Management LLC grew 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 worth $43,168,000 after purchasing an additional 1,778,515 shares in the last quarter. Farallon Capital Management LLC grew its stake in Centessa Pharmaceuticals by 438.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock worth $18,024,000 after purchasing an additional 1,625,000 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Centessa Pharmaceuticals during the 3rd quarter worth $20,698,000. Franklin Resources Inc. grew its stake in Centessa Pharmaceuticals by 99.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock worth $38,360,000 after purchasing an additional 1,145,823 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in Centessa Pharmaceuticals by 89.5% during 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 in the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

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.