Morgan Stanley Reaffirms Overweight Rating for Centessa Pharmaceuticals (NASDAQ:CNTA)

Morgan Stanley reiterated their overweight rating on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a report issued on Friday,Benzinga reports. The brokerage currently has a $27.00 price target on the stock.

CNTA has been the subject of several other research reports. TD Cowen assumed coverage on shares of Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating for the company. Guggenheim reaffirmed a “buy” rating on shares of Centessa Pharmaceuticals in a report on Monday, February 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $26.00.

Centessa Pharmaceuticals Stock Down 3.2 %

Shares of CNTA opened at $16.23 on Friday. 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 stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -10.61 and a beta of 1.54. Centessa Pharmaceuticals has a 1 year low of $7.75 and a 1 year high of $19.09. The business’s 50 day simple moving average is $16.49 and its 200-day simple moving average is $16.10.

Insider Activity

In other news, CTO Tia L. Bush sold 17,813 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $18.00, for a total transaction of $320,634.00. Following the transaction, the chief technology officer now owns 147,615 shares of the company’s stock, valued at approximately $2,657,070. This represents a 10.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Karen M. Anderson sold 5,876 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $17.01, for a total value of $99,950.76. Following the sale, the insider now directly owns 71,525 shares of the company’s stock, valued at $1,216,640.25. This represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,186 shares of company stock valued at $6,017,106. 11.59% of the stock is currently owned by company insiders.

Institutional Trading of Centessa Pharmaceuticals

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in Centessa Pharmaceuticals during the 4th quarter valued at about $31,000. Woodline Partners LP increased its position in shares of Centessa Pharmaceuticals by 5.7% during the fourth quarter. Woodline Partners LP now owns 545,645 shares of the company’s stock worth $9,140,000 after acquiring an additional 29,266 shares during the period. Squarepoint Ops LLC raised its stake in shares of Centessa Pharmaceuticals by 33.2% during the fourth quarter. Squarepoint Ops LLC now owns 26,806 shares of the company’s stock valued at $449,000 after acquiring an additional 6,685 shares in the last quarter. Stempoint Capital LP boosted its holdings in shares of Centessa Pharmaceuticals by 667.3% in the fourth quarter. Stempoint Capital LP now owns 641,964 shares of the company’s stock valued at $10,753,000 after purchasing an additional 558,302 shares during the period. Finally, Shay Capital LLC bought a new position in Centessa Pharmaceuticals in the fourth quarter worth approximately $239,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.