Centessa Pharmaceuticals (NASDAQ:CNTA) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company cut shares of Centessa Pharmaceuticals (NASDAQ:CNTA) from an overweight rating to an equal weight rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $42.00 price target on the stock, up from their previous price target of $35.00.

Several other analysts have also recently commented on CNTA. Needham & Company LLC cut shares of Centessa Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Piper Sandler reiterated an “overweight” rating on shares of Centessa Pharmaceuticals in a research note on Friday, January 16th. Truist Financial cut shares of Centessa Pharmaceuticals from a “buy” rating to a “hold” rating and set a $38.00 price target on the stock. in a research note on Monday, April 13th. Chardan Capital reiterated a “buy” rating and issued a $30.00 price target on shares of Centessa Pharmaceuticals in a research note on Friday, January 2nd. Finally, Leerink Partners cut shares of Centessa Pharmaceuticals from an “outperform” rating to a “hold” rating and boosted their price target for the stock from $36.00 to $40.00 in a research note on Wednesday, April 1st. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Centessa Pharmaceuticals has an average rating of “Hold” and a consensus target price of $40.70.

Centessa Pharmaceuticals Trading Down 0.1%

Shares of Centessa Pharmaceuticals stock opened at $39.47 on Monday. The company has a market capitalization of $6.10 billion, a P/E ratio of -26.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.57 and a current ratio of 8.57. The company has a fifty day moving average of $31.11 and a 200 day moving average of $27.08. Centessa Pharmaceuticals has a fifty-two week low of $10.95 and a fifty-two week high of $40.26.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its earnings results on Tuesday, March 31st. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.10). On average, sell-side analysts anticipate that Centessa Pharmaceuticals will post -1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Gregory M. Weinhoff sold 73,196 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $26.33, for a total value of $1,927,250.68. Following the sale, the insider directly owned 65,925 shares of the company’s stock, valued at $1,735,805.25. This represents a 52.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karen M. Anderson sold 41,076 shares of the stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $30.12, for a total transaction of $1,237,209.12. Following the completion of the sale, the insider directly owned 62,085 shares in the company, valued at $1,870,000.20. This trade represents a 39.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 349,073 shares of company stock valued at $9,429,412 in the last ninety days. 7.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Virtus Investment Advisers LLC increased its position in shares of Centessa Pharmaceuticals by 6.2% during the fourth quarter. Virtus Investment Advisers LLC now owns 10,034 shares of the company’s stock worth $251,000 after acquiring an additional 583 shares during the period. Coastal Bridge Advisors LLC boosted its stake in shares of Centessa Pharmaceuticals by 7.1% during the fourth quarter. Coastal Bridge Advisors LLC now owns 14,033 shares of the company’s stock valued at $351,000 after purchasing an additional 931 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Centessa Pharmaceuticals by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,688 shares of the company’s stock valued at $117,000 after purchasing an additional 979 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of Centessa Pharmaceuticals during the fourth quarter valued at approximately $25,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Centessa Pharmaceuticals by 42.4% during the fourth quarter. Wells Fargo & Company MN now owns 3,387 shares of the company’s stock valued at $85,000 after purchasing an additional 1,008 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals plc is a global clinical‐stage biopharmaceutical company focused on the discovery and development of innovative therapies across multiple disease areas. The company operates a modular R&D network, bringing together a portfolio of independent, specialist research entities under a single corporate umbrella. This structure is designed to accelerate decision‐making and resource allocation while leveraging deep scientific expertise in each therapeutic domain.

Centessa’s pipeline spans oncology, immunology, neuroscience, cardiovascular and metabolic diseases, as well as rare genetic disorders.