Centessa Pharmaceuticals (NASDAQ:CNTA) Price Target Raised to $28.00 at Guggenheim

Centessa Pharmaceuticals (NASDAQ:CNTA) had its target price upped by Guggenheim from $24.00 to $28.00 in a research note released on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

CNTA has been the subject of a number of other research reports. B. Riley began coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $11.00 to $26.00 in a research report on Thursday, September 19th. Jefferies Financial Group increased their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets increased their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $25.83.

Centessa Pharmaceuticals Price Performance

CNTA stock traded down $1.50 during midday trading on Friday, reaching $16.00. 730,650 shares of the stock were exchanged, compared to its average volume of 404,940. The company has a fifty day moving average price of $15.90 and a 200 day moving average price of $12.12. Centessa Pharmaceuticals has a 52 week low of $5.58 and a 52 week high of $18.74. The stock has a market capitalization of $1.81 billion, a PE ratio of -10.46 and a beta of 1.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 13.29.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. As a group, analysts expect that Centessa Pharmaceuticals will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 25,000 shares of Centessa Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $15.00, for a total value of $375,000.00. Following the completion of the sale, the insider now directly owns 223,369 shares in the company, valued at $3,350,535. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Saurabh Saha sold 4,169 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total value of $51,362.08. Following the completion of the transaction, the chief executive officer now directly owns 827,755 shares in the company, valued at approximately $10,197,941.60. The trade was a 0.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 325,031 shares of company stock worth $5,213,043 over the last quarter. Corporate insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Centessa Pharmaceuticals by 47.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock worth $40,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Centessa Pharmaceuticals by 103.1% in the third quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock valued at $48,000 after buying an additional 1,509 shares during the period. Quarry LP lifted its position in Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after buying an additional 3,108 shares in the last quarter. Sandia Investment Management LP bought a new stake in Centessa Pharmaceuticals in the second quarter valued at approximately $90,000. Finally, Fred Alger Management LLC bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $99,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

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.