Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 3.2% Higher – Here’s Why

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price shot up 3.2% during trading on Tuesday . The stock traded as high as $15.42 and last traded at $15.53. 122,953 shares changed hands during trading, a decline of 84% from the average session volume of 791,823 shares. The stock had previously closed at $15.04.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CNTA shares. Guggenheim reiterated a “buy” rating on shares of Centessa Pharmaceuticals in a report on Monday, February 10th. TD Cowen started coverage on shares of Centessa Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $25.83.

Centessa Pharmaceuticals Trading Up 8.7 %

The firm has a market capitalization of $2.16 billion, a P/E ratio of -10.73 and a beta of 1.53. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $16.51 and a 200-day simple moving average of $16.06.

Insider Activity at Centessa Pharmaceuticals

In related news, CEO Saurabh Saha sold 87,496 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $18.46, for a total transaction of $1,615,176.16. Following the completion of the transaction, the chief executive officer now directly owns 575,661 shares in the company, valued at approximately $10,626,702.06. The trade was a 13.19 % decrease in their position. The sale was disclosed in a legal 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 transaction of $99,950.76. Following the sale, the insider now owns 71,525 shares in the company, valued at approximately $1,216,640.25. The trade was a 7.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 446,682 shares of company stock worth $7,632,282. 11.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in shares of Centessa Pharmaceuticals in the fourth quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 valued at $40,000 after buying an additional 826 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Centessa Pharmaceuticals by 29.1% during the 4th quarter. GAMMA Investing LLC now owns 3,837 shares of the company’s stock worth $64,000 after acquiring an additional 865 shares in the last quarter. Barclays PLC grew its holdings in shares of Centessa Pharmaceuticals by 1,414.9% in the fourth quarter. Barclays PLC now owns 5,302 shares of the company’s stock valued at $89,000 after purchasing an additional 4,952 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Centessa Pharmaceuticals in the fourth quarter worth $162,000. 82.01% of the stock is currently owned by 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.