Centessa Pharmaceuticals (NASDAQ:CNTA) Hits New 12-Month High – What’s Next?

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.57 and last traded at $24.25, with a volume of 1417723 shares changing hands. The stock had previously closed at $24.40.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CNTA shares. Chardan Capital restated a “buy” rating and set a $30.00 target price on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. Truist Financial started coverage on shares of Centessa Pharmaceuticals in a research report on Monday, July 21st. They issued a “buy” rating and a $30.00 price objective for the company. Lifesci Capital raised shares of Centessa Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, September 3rd. Wells Fargo & Company began coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, September 3rd. They set an “overweight” rating and a $31.00 target price for the company. Finally, Wall Street Zen cut shares of Centessa Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $32.38.

Centessa Pharmaceuticals Stock Performance

The firm’s 50 day moving average price is $18.67 and its two-hundred day moving average price is $15.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.12 and a current ratio of 10.11. The firm has a market cap of $3.25 billion, a PE ratio of -13.55 and a beta of 1.47.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.03). On average, research analysts forecast that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current year.

Insider Transactions at Centessa Pharmaceuticals

In other news, CTO Tia L. Bush sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $24.00, for a total value of $840,000.00. Following the transaction, the chief technology officer directly owned 121,503 shares in the company, valued at approximately $2,916,072. This represents a 22.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Iqbal J. Hussain sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $20.01, for a total transaction of $400,200.00. Following the completion of the transaction, the general counsel owned 105,386 shares in the company, valued at approximately $2,108,773.86. This represents a 15.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,286 shares of company stock worth $3,993,345. 7.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Centessa Pharmaceuticals by 15,209.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company’s stock worth $46,000 after acquiring an additional 3,194 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Centessa Pharmaceuticals in the 1st quarter worth approximately $47,000. Bank of New York Mellon Corp acquired a new position in shares of Centessa Pharmaceuticals in the 1st quarter worth approximately $147,000. Fox Run Management L.L.C. acquired a new position in shares of Centessa Pharmaceuticals in the 1st quarter worth approximately $160,000. Finally, Vestal Point Capital LP acquired a new position in shares of Centessa Pharmaceuticals in the 1st quarter worth approximately $214,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.