Centessa Pharmaceuticals (NASDAQ:CNTA) Upgraded to “Overweight” by Morgan Stanley

Centessa Pharmaceuticals (NASDAQ:CNTA) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a $26.00 price objective on the stock, up from their prior price objective of $11.00. Morgan Stanley’s target price points to a potential upside of 64.04% from the company’s previous close.

Other analysts have also issued research reports about the stock. Jefferies Financial Group raised their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets raised their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday. B. Riley assumed coverage on Centessa Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $33.00 target price for the company. Guggenheim raised their price target on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Six equities research 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 target price of $25.17.

Centessa Pharmaceuticals Price Performance

Shares of NASDAQ:CNTA traded up $0.14 on Thursday, hitting $15.85. The company had a trading volume of 811,734 shares, compared to its average volume of 388,219. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.59 billion, a PE ratio of -11.16 and a beta of 1.44. Centessa Pharmaceuticals has a 52-week low of $5.15 and a 52-week high of $17.59. The business has a 50 day moving average of $12.15 and a 200 day moving average of $10.60.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). As a group, equities analysts anticipate that Centessa Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 12,198 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total transaction of $148,449.66. Following the completion of the sale, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 175,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total value of $2,891,000.00. Following the completion of the sale, the chief executive officer now owns 776,924 shares of the company’s stock, valued at $12,834,784.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory M. Weinhoff sold 12,198 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total transaction of $148,449.66. Following the transaction, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. The disclosure for this sale can be found here. Insiders have sold a total of 216,873 shares of company stock worth $3,472,000 in the last three months. 11.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC purchased a new position in Centessa Pharmaceuticals in the 2nd quarter valued at about $4,064,000. Perceptive Advisors LLC lifted its stake in shares of Centessa Pharmaceuticals by 27.6% in the second quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock worth $35,518,000 after acquiring an additional 850,000 shares in the last quarter. Quarry LP boosted its holdings in Centessa Pharmaceuticals by 47.8% in the second quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after purchasing an additional 3,108 shares during the last quarter. Driehaus Capital Management LLC grew its stake in Centessa Pharmaceuticals by 89.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock valued at $18,891,000 after purchasing an additional 987,997 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Centessa Pharmaceuticals by 30.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 140,894 shares of the company’s stock worth $1,272,000 after purchasing an additional 32,846 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

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.