Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up After Insider Buying Activity

Centessa Pharmaceuticals plc (NASDAQ:CNTA) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $12.26, but opened at $12.74. Centessa Pharmaceuticals shares last traded at $12.97, with a volume of 107,299 shares traded.

Specifically, Director Arjun Goyal acquired 417,646 shares of the business’s stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $12.73 per share, for a total transaction of $5,316,633.58. Following the acquisition, the director now directly owns 462,585 shares of the company’s stock, valued at $5,888,707.05. This represents a 929.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arjun Goyal purchased 44,939 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $12.24 per share, with a total value of $550,053.36. Following the completion of the acquisition, the director now directly owns 44,939 shares in the company, valued at approximately $550,053.36. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

Several research analysts have commented on CNTA shares. Chardan Capital started coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, May 8th. They issued a “buy” rating and a $30.00 target price for the company. Oppenheimer initiated coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, May 8th. They issued an “outperform” rating and a $6.00 price target on the stock. Piper Sandler initiated coverage on Centessa Pharmaceuticals in a report on Monday, March 31st. They set an “overweight” rating and a $38.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and issued a $27.00 target price on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. Finally, Guggenheim reissued a “buy” rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, March 26th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Centessa Pharmaceuticals Trading Up 7.7%

The business has a 50 day moving average price of $13.31 and a 200 day moving average price of $15.54. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.76 billion, a P/E ratio of -8.63 and a beta of 1.53.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.15. Analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. raised its position in shares of Centessa Pharmaceuticals by 35.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company’s stock valued at $99,999,000 after buying an additional 1,834,973 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Centessa Pharmaceuticals by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company’s stock worth $89,854,000 after acquiring an additional 685,371 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Centessa Pharmaceuticals by 279.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company’s stock valued at $82,218,000 after buying an additional 3,614,623 shares during the period. Farallon Capital Management LLC increased its position in Centessa Pharmaceuticals by 24.3% in the 4th quarter. Farallon Capital Management LLC now owns 3,498,709 shares of the company’s stock valued at $58,603,000 after acquiring an additional 684,391 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Centessa Pharmaceuticals by 26.2% during the 4th quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company’s stock worth $57,396,000 after purchasing an additional 710,936 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.