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

Centessa Pharmaceuticals plc (NASDAQ:CNTA) 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 traded hands during trading, a decline of 60% from the average session volume of 496,576 shares. The stock had previously closed at $15.16.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CNTA shares. TD Cowen started coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating for the company. Guggenheim upped their target price 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Price Performance

The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -10.64 and a beta of 1.53. The company’s 50 day simple moving average is $16.78 and its 200-day simple moving average is $14.80. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. On average, equities research analysts predict that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $15.77, for a total value of $867,350.00. Following the transaction, the chief executive officer now owns 429,398 shares in the company, valued at approximately $6,771,606.46. This trade represents a 11.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $17.66, for a total transaction of $176,600.00. Following the sale, the insider now owns 183,266 shares in the company, valued at $3,236,477.56. This represents a 5.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 404,226 shares of company stock valued at $6,904,115. Insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

A number of hedge funds have recently made changes to their positions in CNTA. GAMMA Investing LLC increased its stake in shares of Centessa Pharmaceuticals by 29.1% in the fourth quarter. GAMMA Investing LLC now owns 3,837 shares of the company’s stock worth $64,000 after buying an additional 865 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Centessa Pharmaceuticals by 1,969.2% in the third quarter. JPMorgan Chase & Co. now owns 135,903 shares of the company’s stock worth $2,173,000 after buying an additional 129,335 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Centessa Pharmaceuticals in the third quarter worth $4,305,000. Franklin Resources Inc. increased its stake in shares of Centessa Pharmaceuticals by 99.1% in the third quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock worth $38,360,000 after buying an additional 1,145,823 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Centessa Pharmaceuticals by 68.7% in the third quarter. Geode Capital Management LLC now owns 56,597 shares of the company’s stock worth $905,000 after purchasing an additional 23,058 shares during the period. Hedge funds and other institutional investors 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.