Oppenheimer Begins Coverage on Centessa Pharmaceuticals (NASDAQ:CNTA)

Investment analysts at Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a research note issued to investors on Friday. The brokerage set an “outperform” rating and a $40.00 price target on the stock. Oppenheimer’s target price suggests a potential upside of 138.24% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Wall Street Zen cut shares of Centessa Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Needham & Company LLC started coverage on shares of Centessa Pharmaceuticals in a research report on Wednesday, May 28th. They set a “buy” rating and a $35.00 price target for the company. Truist Financial started coverage on Centessa Pharmaceuticals in a research report on Monday, July 21st. They set a “buy” rating and a $30.00 target price for the company. Finally, Chardan Capital restated a “buy” rating and set a $30.00 target price on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.50.

Centessa Pharmaceuticals Stock Up 1.4%

Shares of NASDAQ:CNTA opened at $16.79 on Friday. Centessa Pharmaceuticals has a one year low of $9.60 and a one year high of $19.09. The company has a 50 day moving average of $15.70 and a 200-day moving average of $14.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.11 and a quick ratio of 10.12. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -9.38 and a beta of 1.48.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). On average, sell-side analysts forecast that Centessa Pharmaceuticals will post -1.6 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $12.63, for a total transaction of $694,650.00. Following the transaction, the chief executive officer owned 221,017 shares in the company, valued at $2,791,444.71. The trade was a 19.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $13.86, for a total value of $138,600.00. Following the transaction, the insider owned 122,279 shares in the company, valued at $1,694,786.94. This trade represents a 7.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,322 shares of company stock valued at $2,472,814 over the last 90 days. 7.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several institutional investors have recently modified their holdings of CNTA. Geode Capital Management LLC lifted its holdings in shares of Centessa Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 57,257 shares of the company’s stock valued at $959,000 after purchasing an additional 660 shares in the last quarter. Barclays PLC lifted its holdings in shares of Centessa Pharmaceuticals by 1,414.9% during the 4th quarter. Barclays PLC now owns 5,302 shares of the company’s stock valued at $89,000 after purchasing an additional 4,952 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Centessa Pharmaceuticals during the 4th quarter valued at about $497,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Centessa Pharmaceuticals by 19.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 317,329 shares of the company’s stock valued at $5,315,000 after purchasing an additional 52,360 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Centessa Pharmaceuticals during the 4th quarter valued at about $6,117,000. Institutional investors 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 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.