Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 6.8% Higher – What’s Next?

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Guggenheim boosted their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, November 15th. TD Cowen initiated coverage on Centessa Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $25.83.

Centessa Pharmaceuticals Stock Down 2.4 %

The business’s 50-day moving average price is $16.78 and its 200-day moving average price is $14.80. 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 firm has a market capitalization of $2.15 billion, a PE ratio of -10.64 and a beta of 1.53.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released 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. As a group, equities research analysts predict that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 87,496 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $18.46, for a total transaction of $1,615,176.16. Following the transaction, the chief executive officer now owns 575,661 shares in the company, valued at $10,626,702.06. This trade represents a 13.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory M. Weinhoff sold 11,742 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $15.38, for a total value of $180,591.96. Following the transaction, the insider now owns 183,266 shares in the company, valued at approximately $2,818,631.08. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,226 shares of company stock worth $6,904,115. Insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNTA. Jane Street Group LLC acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter worth $2,834,000. Wellington Management Group LLP acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter worth $1,609,000. Nantahala Capital Management LLC acquired a new stake in shares of Centessa Pharmaceuticals in the second quarter worth $4,064,000. Ally Bridge Group NY LLC acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter worth $4,951,000. Finally, State Street Corp acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter worth $777,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

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.