Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up on Insider Buying Activity

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $12.26, but opened at $12.74. Centessa Pharmaceuticals shares last traded at $12.97, with a volume of 107,299 shares.

Specifically, Director Arjun Goyal bought 417,646 shares of the business’s stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $12.73 per share, with a total value of $5,316,633.58. Following the purchase, the director now directly owns 462,585 shares of the company’s stock, valued at approximately $5,888,707.05. The trade was a 929.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arjun Goyal acquired 44,939 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average cost of $12.24 per share, with a total value of $550,053.36. Following the transaction, the director now directly owns 44,939 shares in the company, valued at $550,053.36. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

CNTA has been the topic of a number of research reports. Chardan Capital initiated coverage on Centessa Pharmaceuticals in a report on Thursday, May 8th. They issued a “buy” rating and a $30.00 price target on the stock. Oppenheimer began coverage on Centessa Pharmaceuticals in a report on Thursday, May 8th. They issued an “outperform” rating and a $6.00 target price for the company. Morgan Stanley reissued an “overweight” rating and issued a $27.00 target price on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Piper Sandler initiated coverage on shares of Centessa Pharmaceuticals in a report on Monday, March 31st. They set an “overweight” rating and a $38.00 target price for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $28.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, March 26th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $27.00.

Centessa Pharmaceuticals Stock Performance

The stock has a 50 day simple moving average of $13.38 and a two-hundred day simple moving average of $15.56. The stock has a market capitalization of $1.73 billion, a P/E ratio of -8.47 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.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.15. On average, equities analysts forecast that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of hedge funds have recently made changes to their positions in CNTA. JPMorgan Chase & Co. lifted its holdings in shares of Centessa Pharmaceuticals by 1,969.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 135,903 shares of the company’s stock valued at $2,173,000 after purchasing an additional 129,335 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Centessa Pharmaceuticals by 39.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,909 shares of the company’s stock valued at $317,000 after purchasing an additional 5,316 shares during the period. Wellington Management Group LLP raised its position in Centessa Pharmaceuticals by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 115,107 shares of the company’s stock valued at $1,928,000 after purchasing an additional 14,494 shares during the period. Franklin Resources Inc. increased its position in shares of Centessa Pharmaceuticals by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 2,308,546 shares of the company’s stock worth $38,668,000 after acquiring an additional 6,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Centessa Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 57,257 shares of the company’s stock worth $959,000 after purchasing an additional 660 shares in the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

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.