Centessa Pharmaceuticals (NASDAQ:CNTA) PT Raised to $24.00 at Guggenheim

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price target lifted by Guggenheim from $20.00 to $24.00 in a report released on Wednesday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on CNTA. Morgan Stanley raised their price objective on Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an equal weight rating in a research note on Friday, June 21st. BMO Capital Markets raised their price objective on Centessa Pharmaceuticals from $15.00 to $20.00 and gave the stock an outperform rating in a research note on Monday, September 9th. Oppenheimer restated an outperform rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group raised their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $17.60.

Centessa Pharmaceuticals Price Performance

Shares of CNTA stock opened at $16.99 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 13.29 and a quick ratio of 13.29. The company has a market cap of $1.93 billion, a P/E ratio of -11.96 and a beta of 1.44. The stock’s 50-day moving average is $11.76 and its 200 day moving average is $10.48. Centessa Pharmaceuticals has a 1-year low of $5.15 and a 1-year high of $17.59.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Research analysts predict that Centessa Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In other news, insider Gregory M. Weinhoff sold 12,198 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the sale, the insider now directly owns 241,171 shares of the company’s stock, valued at $2,935,051.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Saurabh Saha sold 4,169 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the transaction, the chief executive officer now owns 827,755 shares of the company’s stock, valued at approximately $10,197,941.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gregory M. Weinhoff sold 12,198 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total value of $148,449.66. Following the completion of the transaction, the insider now directly owns 241,171 shares in the company, valued at approximately $2,935,051.07. The disclosure for this sale can be found here. Insiders have sold 216,873 shares of company stock valued at $3,472,000 over the last ninety days. Insiders own 11.59% of the company’s stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Centessa Pharmaceuticals in the 4th quarter valued at $48,000. EntryPoint Capital LLC purchased a new stake in shares of Centessa Pharmaceuticals in the 1st quarter valued at $109,000. Sandia Investment Management LP purchased a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter valued at $90,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Centessa Pharmaceuticals by 69.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,817 shares of the company’s stock valued at $122,000 after buying an additional 4,423 shares during the period. Finally, Fred Alger Management LLC purchased a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter valued at $99,000. 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 to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.