Centessa Pharmaceuticals (NASDAQ:CNTA) Coverage Initiated at TD Cowen

TD Cowen began coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

A number of other equities research analysts have also recently commented on the company. Guggenheim raised their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. BMO Capital Markets increased their target price on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. B. Riley began coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target for the company. Finally, Jefferies Financial Group increased their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals currently has an average rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Trading Up 3.5 %

Shares of NASDAQ:CNTA opened at $17.32 on Tuesday. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. Centessa Pharmaceuticals has a 12-month low of $6.65 and a 12-month high of $18.97. The business has a 50 day moving average of $16.93 and a two-hundred day moving average of $14.30. The company has a market capitalization of $2.28 billion, a PE ratio of -11.32 and a beta of 1.53.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.05. As a group, analysts forecast that Centessa Pharmaceuticals will post -1.6 EPS for the current year.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 11,742 shares of Centessa Pharmaceuticals stock in a transaction dated 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 directly owns 183,266 shares of the company’s stock, valued at $2,818,631.08. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saurabh Saha sold 1,671 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $18.24, for a total transaction of $30,479.04. Following the completion of the transaction, the chief executive officer now owns 575,661 shares in the company, valued at $10,500,056.64. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 368,023 shares of company stock valued at $6,335,574. Corporate insiders own 11.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc grew its holdings in shares of Centessa Pharmaceuticals by 40.5% during the 2nd quarter. TD Asset Management Inc now owns 321,168 shares of the company’s stock worth $2,900,000 after purchasing an additional 92,524 shares during the period. American Century Companies Inc. boosted its stake in Centessa Pharmaceuticals by 1.3% during the second quarter. American Century Companies Inc. now owns 935,151 shares of the company’s stock worth $8,444,000 after buying an additional 12,031 shares during the period. XTX Topco Ltd acquired a new stake in shares of Centessa Pharmaceuticals during the second quarter valued at about $148,000. Farallon Capital Management LLC raised its stake in shares of Centessa Pharmaceuticals by 438.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock valued at $18,024,000 after acquiring an additional 1,625,000 shares during the period. Finally, First Light Asset Management LLC lifted its holdings in shares of Centessa Pharmaceuticals by 59.2% in the 2nd quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock worth $43,168,000 after acquiring an additional 1,778,515 shares during the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

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.