Guggenheim Reaffirms Buy Rating for Centessa Pharmaceuticals (NASDAQ:CNTA)

Centessa Pharmaceuticals (NASDAQ:CNTA)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They presently have a $28.00 price target on the stock. Guggenheim’s target price suggests a potential upside of 92.97% from the stock’s previous close.

Several other brokerages have also commented on CNTA. TD Cowen started coverage on shares of Centessa Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $27.00 target price on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $26.00.

Centessa Pharmaceuticals Trading Down 0.2 %

CNTA opened at $14.51 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. Centessa Pharmaceuticals has a one year low of $7.75 and a one year high of $19.09. The company has a market cap of $1.91 billion, a P/E ratio of -9.48 and a beta of 1.54. The business’s 50-day simple moving average is $16.49 and its 200-day simple moving average is $16.41.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.04. As a group, equities research analysts expect that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Gregory M. Weinhoff sold 11,742 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $16.47, for a total value of $193,390.74. Following the transaction, the insider now owns 159,782 shares of the company’s stock, valued at approximately $2,631,609.54. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David M. Chao sold 7,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $17.17, for a total value of $120,190.00. Following the sale, the insider now directly owns 225,007 shares of the company’s stock, valued at approximately $3,863,370.19. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 260,168 shares of company stock worth $4,309,568 in the last 90 days. Company insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Centessa Pharmaceuticals by 88.1% in the third quarter. The Manufacturers Life Insurance Company now owns 264,969 shares of the company’s stock valued at $4,237,000 after acquiring an additional 124,075 shares in the last quarter. FMR LLC lifted its position in Centessa Pharmaceuticals by 4.6% in the third quarter. FMR LLC now owns 2,916,494 shares of the company’s stock valued at $46,635,000 after purchasing an additional 129,300 shares during the period. Ally Bridge Group NY LLC purchased a new stake in Centessa Pharmaceuticals in the 3rd quarter valued at approximately $4,951,000. Suvretta Capital Management LLC acquired a new position in Centessa Pharmaceuticals during the 3rd quarter worth approximately $1,119,000. Finally, Walleye Capital LLC purchased a new position in shares of Centessa Pharmaceuticals during the 3rd quarter worth approximately $187,000. 82.01% of the stock is owned by institutional investors and hedge funds.

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.