Centessa Pharmaceuticals (NASDAQ:CNTA) PT Raised to $19.00

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price objective increased by equities researchers at Jefferies Financial Group from $13.00 to $19.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 25.83% from the company’s current price.

CNTA has been the subject of several other reports. Morgan Stanley lifted their price target on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. Oppenheimer reissued an “outperform” rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Finally, BMO Capital Markets lifted their price target on shares of Centessa Pharmaceuticals from $15.00 to $20.00 and gave the company an “outperform” rating in a report on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.60.

Centessa Pharmaceuticals Price Performance

NASDAQ:CNTA opened at $15.10 on Wednesday. The company has a 50-day moving average of $11.59 and a 200-day moving average of $10.45. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -10.63 and a beta of 1.44. Centessa Pharmaceuticals has a 52 week low of $5.15 and a 52 week high of $17.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 13.29 and a current ratio of 13.29.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC acquired a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth approximately $4,064,000. Perceptive Advisors LLC grew its holdings in Centessa Pharmaceuticals by 27.6% during the second quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after purchasing an additional 850,000 shares during the period. Quarry LP grew its holdings in Centessa Pharmaceuticals by 47.8% during 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 period. Driehaus Capital Management LLC grew its holdings in Centessa Pharmaceuticals by 89.5% during the second 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 during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Centessa Pharmaceuticals by 30.4% during the second quarter. The Manufacturers Life Insurance Company now owns 140,894 shares of the company’s stock valued at $1,272,000 after purchasing an additional 32,846 shares during the period. Institutional investors and hedge funds 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 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.