Centessa Pharmaceuticals (NASDAQ:CNTA) Sets New 52-Week High – Here’s Why

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA)’s share price reached a new 52-week high on Friday . The stock traded as high as $24.67 and last traded at $24.75, with a volume of 20142 shares. The stock had previously closed at $24.14.

Wall Street Analyst Weigh In

Several analysts have commented on CNTA shares. Guggenheim restated a “buy” rating and set a $28.00 target price on shares of Centessa Pharmaceuticals in a report on Monday, October 6th. Chardan Capital reaffirmed a “buy” rating and issued a $30.00 price target on shares of Centessa Pharmaceuticals in a research note on Tuesday, August 12th. Lifesci Capital raised shares of Centessa Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, September 3rd. Wall Street Zen lowered shares of Centessa Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Finally, Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a research note on Friday, August 29th. They issued an “outperform” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.38.

Centessa Pharmaceuticals Stock Performance

The stock’s 50-day moving average price is $20.95 and its 200 day moving average price is $16.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.11 and a quick ratio of 10.12. The firm has a market cap of $3.23 billion, a P/E ratio of -13.49 and a beta of 1.57.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). As a group, equities analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current year.

Insider Transactions at Centessa Pharmaceuticals

In related news, insider Mario Alberto Accardi sold 8,172 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $21.40, for a total transaction of $174,880.80. Following the transaction, the insider directly owned 197,394 shares in the company, valued at approximately $4,224,231.60. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Tia L. Bush sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $24.00, for a total transaction of $840,000.00. Following the transaction, the chief technology officer owned 121,503 shares in the company, valued at approximately $2,916,072. The trade was a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,286 shares of company stock valued at $3,096,605 over the last 90 days. 7.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Centessa Pharmaceuticals during the third quarter worth $572,000. China Universal Asset Management Co. Ltd. increased its holdings in Centessa Pharmaceuticals by 4.8% during the second quarter. China Universal Asset Management Co. Ltd. now owns 19,181 shares of the company’s stock worth $252,000 after buying an additional 870 shares during the last quarter. Exome Asset Management LLC increased its holdings in Centessa Pharmaceuticals by 17.0% during the second quarter. Exome Asset Management LLC now owns 166,944 shares of the company’s stock worth $2,194,000 after buying an additional 24,200 shares during the last quarter. Octagon Capital Advisors LP increased its holdings in Centessa Pharmaceuticals by 24.8% during the second quarter. Octagon Capital Advisors LP now owns 1,030,000 shares of the company’s stock worth $13,534,000 after buying an additional 205,000 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Centessa Pharmaceuticals by 3,028.1% during the second quarter. BNP Paribas Financial Markets now owns 34,972 shares of the company’s stock worth $460,000 after buying an additional 33,854 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.