Centessa Pharmaceuticals (NASDAQ:CNTA) Sets New 1-Year High – What’s Next?

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $26.00 and last traded at $25.3890, with a volume of 3420521 shares traded. The stock had previously closed at $22.54.

Analyst Upgrades and Downgrades

CNTA has been the topic of several research analyst reports. Stephens initiated coverage on shares of Centessa Pharmaceuticals in a research report on Tuesday, October 28th. They set an “overweight” rating and a $35.00 price target on the stock. Wells Fargo & Company upped their target price on Centessa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer started coverage on Centessa Pharmaceuticals in a research report on Friday, August 29th. They issued an “outperform” rating and a $40.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Centessa Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Centessa Pharmaceuticals Stock Up 6.3%

The company has a debt-to-equity ratio of 0.36, a current ratio of 10.56 and a quick ratio of 10.57. The stock has a 50 day simple moving average of $23.17 and a 200-day simple moving average of $17.50. The firm has a market cap of $3.70 billion, a PE ratio of -15.09 and a beta of 1.56.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). Sell-side analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Iqbal J. Hussain sold 20,000 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $20.01, for a total value of $400,200.00. Following the completion of the sale, the general counsel directly owned 105,386 shares in the company, valued at approximately $2,108,773.86. This trade represents a 15.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Tia L. Bush sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $26.00, for a total transaction of $1,040,000.00. Following the transaction, the chief technology officer owned 121,503 shares in the company, valued at $3,159,078. This represents a 24.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 179,964 shares of company stock valued at $4,106,481 over the last ninety days. 7.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Centessa Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in Centessa Pharmaceuticals by 15,209.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company’s stock worth $46,000 after acquiring an additional 3,194 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Centessa Pharmaceuticals in the 1st quarter worth $47,000. Bank of New York Mellon Corp bought a new position in Centessa Pharmaceuticals in the 1st quarter worth $147,000. Fox Run Management L.L.C. purchased a new position in Centessa Pharmaceuticals during the first quarter valued at $160,000. Finally, Vestal Point Capital LP bought a new stake in Centessa Pharmaceuticals during the first quarter valued at about $214,000. 82.01% of the stock is currently owned by 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.