Stephens Initiates Coverage on Centessa Pharmaceuticals (NASDAQ:CNTA)

Equities researchers at Stephens began coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a report issued on Tuesday, Marketbeat.com reports. The firm set an “overweight” rating and a $35.00 price target on the stock. Stephens’ target price suggests a potential upside of 45.95% from the stock’s previous close.

A number of other equities research analysts have also issued reports on CNTA. Lifesci Capital raised shares of Centessa Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, September 3rd. Wall Street Zen raised shares of Centessa Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday. Chardan Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of Centessa Pharmaceuticals in a report on Tuesday, August 12th. Truist Financial assumed coverage on shares of Centessa Pharmaceuticals in a report on Monday, July 21st. They set a “buy” rating and a $30.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Centessa Pharmaceuticals Price Performance

Centessa Pharmaceuticals stock opened at $23.98 on Tuesday. Centessa Pharmaceuticals has a 52-week low of $9.60 and a 52-week high of $25.31. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -13.40 and a beta of 1.57. The company has a fifty day simple moving average of $21.38 and a 200-day simple moving average of $16.57. The company has a quick ratio of 10.12, a current ratio of 10.11 and a debt-to-equity ratio of 0.32.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Tuesday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). On average, equities analysts anticipate that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In other news, insider Mario Alberto Accardi sold 8,000 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $25.00, for a total transaction of $200,000.00. Following the sale, the insider owned 194,394 shares of the company’s stock, valued at approximately $4,859,850. This represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $22.41, for a total transaction of $134,460.00. Following the sale, the general counsel directly owned 105,386 shares in the company, valued at $2,361,700.26. This represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 145,964 shares of company stock valued at $3,169,861. 7.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its position in shares of Centessa Pharmaceuticals by 4.8% during the second quarter. China Universal Asset Management Co. Ltd. now owns 19,181 shares of the company’s stock worth $252,000 after purchasing an additional 870 shares in the last quarter. HighMark Wealth Management LLC lifted its position in shares of Centessa Pharmaceuticals by 0.6% during the second quarter. HighMark Wealth Management LLC now owns 237,285 shares of the company’s stock worth $3,118,000 after purchasing an additional 1,500 shares in the last quarter. HighVista Strategies LLC lifted its position in shares of Centessa Pharmaceuticals by 4.3% during the second quarter. HighVista Strategies LLC now owns 40,684 shares of the company’s stock worth $535,000 after purchasing an additional 1,664 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Centessa Pharmaceuticals by 1.1% during the first quarter. Trexquant Investment LP now owns 263,994 shares of the company’s stock worth $3,796,000 after buying an additional 2,810 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Centessa Pharmaceuticals by 15,209.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company’s stock worth $46,000 after buying an additional 3,194 shares during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

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.