Centessa Pharmaceuticals (NASDAQ:CNTA) Lifted to “Buy” at Zacks Investment Research

Centessa Pharmaceuticals (NASDAQ:CNTAGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The brokerage currently has a $3.50 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.06% from the stock’s current price.

According to Zacks, “Centessa Pharmaceuticals plc is a clinical-stage company employing its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients. Centessa Pharmaceuticals plc is based in Cambridge, United Kingdom. “

A number of other equities research analysts also recently commented on CNTA. The Goldman Sachs Group cut their price objective on Centessa Pharmaceuticals from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, May 24th. Morgan Stanley decreased their price objective on shares of Centessa Pharmaceuticals from $19.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, May 24th. Finally, Jefferies Financial Group cut shares of Centessa Pharmaceuticals from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a report on Friday.

Centessa Pharmaceuticals stock traded down $0.05 during midday trading on Monday, hitting $3.18. The stock had a trading volume of 5,782,580 shares, compared to its average volume of 249,128. The stock has a market cap of $299.05 million and a P/E ratio of -1.34. The business has a fifty day moving average price of $7.37 and a 200 day moving average price of $9.13. Centessa Pharmaceuticals has a 12 month low of $2.88 and a 12 month high of $26.90. The company has a current ratio of 21.37, a quick ratio of 21.37 and a debt-to-equity ratio of 0.16.

Centessa Pharmaceuticals (NASDAQ:CNTAGet Rating) last issued its quarterly earnings data on Monday, May 16th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.09. On average, equities analysts anticipate that Centessa Pharmaceuticals will post -2.48 EPS for the current fiscal year.

In related news, EVP Antoine Yver sold 20,222 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $5.42, for a total value of $109,603.24. Following the completion of the transaction, the executive vice president now directly owns 813,675 shares of the company’s stock, valued at approximately $4,410,118.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.09% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in CNTA. Point72 Asset Management L.P. boosted its position in shares of Centessa Pharmaceuticals by 263.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,097,908 shares of the company’s stock worth $12,362,000 after acquiring an additional 795,708 shares in the last quarter. Virtus ETF Advisers LLC acquired a new stake in Centessa Pharmaceuticals in the fourth quarter worth $167,000. General Atlantic L.P. grew its holdings in Centessa Pharmaceuticals by 545.5% in the third quarter. General Atlantic L.P. now owns 9,681,818 shares of the company’s stock worth $161,686,000 after purchasing an additional 8,181,818 shares during the period. Boxer Capital LLC grew its holdings in shares of Centessa Pharmaceuticals by 47.6% during the third quarter. Boxer Capital LLC now owns 1,334,227 shares of the company’s stock valued at $22,282,000 after buying an additional 430,000 shares during the last quarter. Finally, RA Capital Management L.P. grew its holdings in shares of Centessa Pharmaceuticals by 179.4% during the third quarter. RA Capital Management L.P. now owns 3,577,094 shares of the company’s stock valued at $59,737,000 after buying an additional 2,296,794 shares during the last quarter. 95.72% of the stock is currently owned by hedge funds and other institutional investors.

About Centessa Pharmaceuticals (Get Rating)

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its registrational pipeline products include Lixivaptan, a vasopressin V2 receptor small molecule inhibitor that is in Phase III clinical development for the treatment of autosomal dominant polycystic kidney disease; and SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B.

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