TD Cowen Initiates Coverage on Centessa Pharmaceuticals (NASDAQ:CNTA)

Research analysts at TD Cowen initiated coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a report issued on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating on the stock.

CNTA has been the topic of a number of other research reports. B. Riley assumed coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target on the stock. BMO Capital Markets lifted their target price on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Jefferies Financial Group upped their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $26.00 in a research report on Thursday, September 19th. Finally, Guggenheim increased their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Centessa Pharmaceuticals has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Down 7.0 %

NASDAQ CNTA opened at $16.10 on Tuesday. Centessa Pharmaceuticals has a 12 month low of $6.65 and a 12 month high of $18.97. The company has a market capitalization of $2.12 billion, a P/E ratio of -10.52 and a beta of 1.53. The company’s 50 day simple moving average is $16.95 and its 200 day simple moving average is $14.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.05. Equities research analysts expect that Centessa Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, CTO Tia L. Bush sold 17,813 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $18.00, for a total value of $320,634.00. Following the transaction, the chief technology officer now directly owns 147,615 shares of the company’s stock, valued at $2,657,070. This represents a 10.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saurabh Saha sold 22,205 shares of Centessa Pharmaceuticals stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $15.80, for a total value of $350,839.00. Following the sale, the chief executive officer now owns 663,456 shares of the company’s stock, valued at approximately $10,482,604.80. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 368,023 shares of company stock valued at $6,335,574 in the last quarter. Company insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc increased its stake in shares of Centessa Pharmaceuticals by 40.5% during the 2nd quarter. TD Asset Management Inc now owns 321,168 shares of the company’s stock worth $2,900,000 after purchasing an additional 92,524 shares during the last quarter. American Century Companies Inc. increased its position in Centessa Pharmaceuticals by 1.3% during the second quarter. American Century Companies Inc. now owns 935,151 shares of the company’s stock worth $8,444,000 after buying an additional 12,031 shares during the last quarter. XTX Topco Ltd bought a new position in Centessa Pharmaceuticals during the second quarter valued at about $148,000. Farallon Capital Management LLC lifted its position in shares of Centessa Pharmaceuticals by 438.0% in the second quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock worth $18,024,000 after buying an additional 1,625,000 shares during the last quarter. Finally, First Light Asset Management LLC boosted its stake in shares of Centessa Pharmaceuticals by 59.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock worth $43,168,000 after acquiring an additional 1,778,515 shares in the last quarter. Institutional investors own 82.01% of the company’s stock.

Centessa Pharmaceuticals Company Profile

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.