Centessa Pharmaceuticals (NASDAQ:CNTA) Hits New 12-Month High Following Better-Than-Expected Earnings

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $17.72 and last traded at $17.66, with a volume of 358444 shares. The stock had previously closed at $16.73.

The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group upped their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. B. Riley began coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price objective on the stock. BMO Capital Markets lifted their target price on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Oppenheimer restated an “outperform” rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Finally, Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.17.

Insider Transactions at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 11,742 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $15.38, for a total value of $180,591.96. Following the completion of the transaction, the insider now owns 183,266 shares of the company’s stock, valued at $2,818,631.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Gregory M. Weinhoff sold 12,198 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total transaction of $148,449.66. Following the sale, the insider now owns 241,171 shares in the company, valued at approximately $2,935,051.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gregory M. Weinhoff sold 11,742 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $15.38, for a total transaction of $180,591.96. Following the transaction, the insider now owns 183,266 shares of the company’s stock, valued at approximately $2,818,631.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 325,031 shares of company stock valued at $5,213,043. 11.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of large investors have recently modified their holdings of the business. First Light Asset Management LLC bought a new stake in shares of Centessa Pharmaceuticals during the 1st quarter worth $33,923,000. Farallon Capital Management LLC raised its stake in Centessa Pharmaceuticals by 438.0% during the second quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock worth $18,024,000 after acquiring an additional 1,625,000 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Centessa Pharmaceuticals by 89.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock valued at $18,891,000 after purchasing an additional 987,997 shares in the last quarter. Perceptive Advisors LLC boosted its stake in shares of Centessa Pharmaceuticals by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Nantahala Capital Management LLC bought a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter valued at approximately $4,064,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

Centessa Pharmaceuticals Stock Performance

The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -11.82 and a beta of 1.47. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average is $15.81 and its 200-day moving average is $12.03.

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.