Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 6.8% Higher – Time to Buy?

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

Wall Street Analyst Weigh In

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

Centessa Pharmaceuticals Price Performance

The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.17 billion, a PE ratio of -10.75 and a beta of 1.53. The company has a fifty day moving average price of $16.84 and a two-hundred day moving average price of $14.72.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05. Sell-side analysts forecast that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Insider Activity

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 1,671 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.24, for a total transaction of $30,479.04. Following the completion of the sale, the chief executive officer now directly owns 575,661 shares of the company’s stock, valued at $10,500,056.64. This represents a 0.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $15.29, for a total value of $91,740.00. Following the sale, the general counsel now directly owns 118,265 shares of the company’s stock, valued at approximately $1,808,271.85. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 351,818 shares of company stock valued at $6,076,475. Insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Light Asset Management LLC raised 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 acquiring an additional 1,778,515 shares during the last quarter. Perceptive Advisors LLC raised its stake in Centessa Pharmaceuticals by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after acquiring an additional 850,000 shares during the last quarter. FMR LLC increased its position in Centessa Pharmaceuticals by 4.6% during the 3rd quarter. FMR LLC now owns 2,916,494 shares of the company’s stock worth $46,635,000 after purchasing an additional 129,300 shares during the period. Point72 Asset Management L.P. increased its position in 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 worth $43,423,000 after purchasing an additional 953,659 shares during the period. Finally, Franklin Resources Inc. increased its position 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 during the period. 82.01% of the stock is owned by hedge funds and other institutional investors.

Centessa Pharmaceuticals Company Profile

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.