Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up on Analyst Upgrade

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price gapped up before the market opened on Friday after Morgan Stanley raised their price target on the stock from $8.00 to $11.00. The stock had previously closed at $8.86, but opened at $9.09. Morgan Stanley currently has an equal weight rating on the stock. Centessa Pharmaceuticals shares last traded at $9.30, with a volume of 12,800 shares trading hands.

Separately, BMO Capital Markets reissued an “outperform” rating and issued a $15.00 price target on shares of Centessa Pharmaceuticals in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.50.

Insiders Place Their Bets

In related news, insider Karen M. Anderson sold 51,160 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $11.88, for a total value of $607,780.80. Following the transaction, the insider now directly owns 71,525 shares of the company’s stock, valued at approximately $849,717. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of large investors have recently bought and sold shares of CNTA. China Universal Asset Management Co. Ltd. raised its stake in shares of Centessa Pharmaceuticals by 69.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,817 shares of the company’s stock valued at $122,000 after buying an additional 4,423 shares during the last quarter. Quarry LP purchased a new position in Centessa Pharmaceuticals during the fourth quarter valued at approximately $48,000. EntryPoint Capital LLC acquired a new position in Centessa Pharmaceuticals in the first quarter valued at approximately $109,000. Jump Financial LLC purchased a new stake in Centessa Pharmaceuticals in the 4th quarter worth approximately $114,000. Finally, Trexquant Investment LP acquired a new stake in shares of Centessa Pharmaceuticals during the 4th quarter worth approximately $114,000. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Centessa Pharmaceuticals Stock Performance

The company has a current ratio of 10.37, a quick ratio of 10.37 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $9.18 and its two-hundred day moving average price is $9.19. The stock has a market capitalization of $914.37 million, a PE ratio of -6.41 and a beta of 1.39.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. As a group, equities research analysts forecast that Centessa Pharmaceuticals plc will post -1.71 EPS for the current year.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.