Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 8.4% Higher on Strong Earnings

Centessa Pharmaceuticals plc (NASDAQ:CNTA) traded up 8.4% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $18.55 and last traded at $18.42. 252,708 shares were traded during trading, a decline of 36% from the average session volume of 397,666 shares. The stock had previously closed at $17.00.

The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05.

Analyst Ratings Changes

Several analysts recently commented on CNTA shares. Jefferies Financial Group increased their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. B. Riley started coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, September 19th. They set a “buy” rating and a $33.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Morgan Stanley raised shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. Finally, Guggenheim raised their price target on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $25.17.

Insider Transactions at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 4,169 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total value of $51,362.08. Following the transaction, the chief executive officer now owns 827,755 shares in the company, valued at $10,197,941.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 11,742 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $15.38, for a total transaction of $180,591.96. Following the sale, the insider now owns 183,266 shares in the company, valued at approximately $2,818,631.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saurabh Saha sold 4,169 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total transaction of $51,362.08. Following the sale, the chief executive officer now owns 827,755 shares in the company, valued at approximately $10,197,941.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 325,031 shares of company stock worth $5,213,043 in the last quarter. Company insiders own 11.59% of the company’s stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Centessa Pharmaceuticals by 47.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock valued at $40,000 after buying an additional 826 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Centessa Pharmaceuticals by 103.1% in the third quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock valued at $48,000 after purchasing an additional 1,509 shares in the last quarter. Quarry LP grew its holdings in shares of Centessa Pharmaceuticals by 47.8% in the second quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after purchasing an additional 3,108 shares in the last quarter. Sandia Investment Management LP purchased a new position in shares of Centessa Pharmaceuticals in the second quarter valued at $90,000. Finally, Fred Alger Management LLC purchased a new position in shares of Centessa Pharmaceuticals in the second quarter valued at $99,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

Centessa Pharmaceuticals Stock Performance

The business’s fifty day moving average is $15.74 and its two-hundred day moving average is $11.99. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.03 billion, a PE ratio of -11.60 and a beta of 1.47.

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.