Centessa Pharmaceuticals (NASDAQ:CNTA) Posts Earnings Results, Beats Estimates By $0.05 EPS

Centessa Pharmaceuticals (NASDAQ:CNTA) posted its quarterly earnings data on Tuesday. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05, Zacks reports.

Centessa Pharmaceuticals Trading Up 6.9 %

Centessa Pharmaceuticals stock traded up $1.18 during mid-day trading on Wednesday, reaching $18.18. 711,356 shares of the company were exchanged, compared to its average volume of 399,751. Centessa Pharmaceuticals has a 12 month low of $5.58 and a 12 month high of $18.74. The company has a fifty day simple moving average of $15.74 and a 200-day simple moving average of $11.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 13.29 and a quick ratio of 13.29.

Insider Transactions at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $16.53, for a total transaction of $909,150.00. Following the sale, the chief executive officer now directly owns 721,924 shares of the company’s stock, valued at approximately $11,933,403.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Saurabh Saha sold 55,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $16.53, for a total transaction of $909,150.00. Following the transaction, the chief executive officer now owns 721,924 shares in the company, valued at approximately $11,933,403.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory M. Weinhoff sold 11,742 shares of the business’s stock in a transaction 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 sale, the insider now owns 183,266 shares of the company’s stock, valued at $2,818,631.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 325,031 shares of company stock valued at $5,213,043. 11.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CNTA has been the subject of several research reports. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. Jefferies Financial Group increased their target price 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. Oppenheimer reissued an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Guggenheim raised their target price on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price target on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $25.17.

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.