Centessa Pharmaceuticals plc (NASDAQ:CNTA) Sees Large Increase in Short Interest

Centessa Pharmaceuticals plc (NASDAQ:CNTA) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,150,000 shares, an increase of 7.0% from the October 15th total of 2,010,000 shares. Based on an average daily trading volume, of 604,100 shares, the short-interest ratio is currently 3.6 days. Currently, 2.7% of the shares of the stock are sold short.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 12,198 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 241,171 shares of the company’s stock, valued at approximately $2,935,051.07. This trade represents a 4.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saurabh Saha sold 175,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the completion of the sale, the chief executive officer now owns 776,924 shares in the company, valued at approximately $12,834,784.48. This trade represents a 18.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 320,862 shares of company stock worth $5,161,681 in the last 90 days. Corporate insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently modified their holdings of CNTA. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after buying an additional 826 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Centessa Pharmaceuticals by 7.0% during the 3rd quarter. Atria Investments Inc now owns 17,134 shares of the company’s stock valued at $274,000 after buying an additional 1,116 shares in the last quarter. GAMMA Investing LLC boosted its stake in Centessa Pharmaceuticals by 103.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after purchasing an additional 1,509 shares during the period. Quarry LP grew its stake in Centessa Pharmaceuticals by 47.8% during the second quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after acquiring an additional 3,108 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Centessa Pharmaceuticals by 99.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,593 shares of the company’s stock worth $217,000 after buying an additional 6,785 shares in the last quarter. Institutional investors own 82.01% of the company’s stock.

Centessa Pharmaceuticals Stock Up 3.9 %

Shares of Centessa Pharmaceuticals stock traded up $0.62 on Tuesday, hitting $16.72. The stock had a trading volume of 126,034 shares, compared to its average volume of 405,852. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The business’s 50 day moving average is $15.92 and its two-hundred day moving average is $12.20. Centessa Pharmaceuticals has a twelve month low of $5.58 and a twelve month high of $18.74.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. Equities research analysts predict that Centessa Pharmaceuticals will post -1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $11.00 to $26.00 in a report on Thursday, September 19th. Guggenheim increased their price target on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group boosted their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Finally, BMO Capital Markets boosted their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals currently has an average rating of “Buy” and an average price target of $25.83.

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.