Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up on Analyst Upgrade

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price gapped up before the market opened on Tuesday after BMO Capital Markets raised their price target on the stock from $15.00 to $20.00. The stock had previously closed at $14.93, but opened at $16.20. BMO Capital Markets currently has an outperform rating on the stock. Centessa Pharmaceuticals shares last traded at $16.65, with a volume of 1,230,965 shares traded.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. Oppenheimer restated an “outperform” rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th.

Insider Transactions at Centessa Pharmaceuticals

In related news, CEO Saurabh Saha sold 4,169 shares of the stock in a transaction dated Tuesday, August 20th. The shares were 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 owns 827,755 shares in the company, valued at approximately $10,197,941.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Saurabh Saha sold 4,169 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the transaction, the chief executive officer now owns 827,755 shares of the company’s stock, valued at approximately $10,197,941.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory M. Weinhoff sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $15.00, for a total transaction of $375,000.00. Following the completion of the transaction, the insider now owns 223,369 shares of the company’s stock, valued at $3,350,535. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,873 shares of company stock valued at $581,000. 11.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several institutional investors have recently bought and sold shares of CNTA. Quarry LP bought a new position in shares of Centessa Pharmaceuticals in the fourth quarter valued at approximately $48,000. Sandia Investment Management LP acquired a new position in shares of Centessa Pharmaceuticals during the second quarter worth about $90,000. Fred Alger Management LLC acquired a new position in shares of Centessa Pharmaceuticals during the 2nd quarter worth about $99,000. EntryPoint Capital LLC acquired a new position in shares of Centessa Pharmaceuticals during the 1st quarter worth about $109,000. Finally, Trexquant Investment LP acquired a new stake in shares of Centessa Pharmaceuticals during the 4th quarter worth about $114,000. 82.01% of the stock is currently owned by institutional investors.

Centessa Pharmaceuticals Price Performance

The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $11.24 and a 200-day moving average of $10.37. The firm has a market capitalization of $1.89 billion, a P/E ratio of -12.03 and a beta of 1.44.

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 analysts’ consensus estimates of ($0.38) by ($0.02). On average, sell-side analysts predict that Centessa Pharmaceuticals plc will post -1.61 EPS for the current year.

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.