Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Up 5.9% – Time to Buy?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s share price rose 5.9% during mid-day trading on Friday . The company traded as high as $18.67 and last traded at $18.52. Approximately 66,692 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 416,439 shares. The stock had previously closed at $17.49.

Wall Street Analyst Weigh In

CNTA has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. B. Riley started coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target for the company. Guggenheim upped their price target on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 15th. BMO Capital Markets lifted their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $14.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Stock Up 6.7 %

The stock has a 50-day moving average of $16.41 and a 200-day moving average of $12.96. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -12.20 and a beta of 1.52. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. As a group, sell-side analysts forecast that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Insider Activity

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 87,496 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $18.46, for a total value of $1,615,176.16. Following the sale, the chief executive officer now owns 575,661 shares of the company’s stock, valued at $10,626,702.06. This trade represents a 13.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gregory M. Weinhoff sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $17.66, for a total value of $176,600.00. Following the transaction, the insider now owns 183,266 shares of the company’s stock, valued at approximately $3,236,477.56. This trade represents a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 462,624 shares of company stock valued at $7,763,698 over the last 90 days. 11.59% of the stock is currently owned by company insiders.

Institutional Trading of Centessa Pharmaceuticals

A number of hedge funds have recently bought and sold shares of CNTA. First Light Asset Management LLC raised its position in shares of Centessa Pharmaceuticals by 59.2% during the second quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock valued at $43,168,000 after buying an additional 1,778,515 shares during the last quarter. Perceptive Advisors LLC increased its stake 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 acquiring an additional 850,000 shares during the period. FMR LLC raised its holdings in Centessa Pharmaceuticals by 4.6% in the 3rd quarter. FMR LLC now owns 2,916,494 shares of the company’s stock valued at $46,635,000 after acquiring an additional 129,300 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Centessa Pharmaceuticals by 54.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,715,663 shares of the company’s stock worth $43,423,000 after acquiring an additional 953,659 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Centessa Pharmaceuticals by 99.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock worth $38,360,000 after purchasing an additional 1,145,823 shares in the last quarter. 82.01% of the stock is owned by institutional investors.

About Centessa Pharmaceuticals

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.