Centessa Pharmaceuticals (NASDAQ:CNTA) Downgraded by Zacks Investment Research to Hold

Centessa Pharmaceuticals (NASDAQ:CNTA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Centessa Pharmaceuticals plc is a clinical-stage company employing its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients. Centessa Pharmaceuticals plc is based in Cambridge, United Kingdom. “

Shares of CNTA traded down $0.05 during trading hours on Thursday, reaching $11.38. The stock had a trading volume of 500,329 shares, compared to its average volume of 200,407. Centessa Pharmaceuticals has a 12 month low of $10.71 and a 12 month high of $26.90. The stock has a 50-day moving average price of $16.07.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Sunday, November 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.10. On average, research analysts anticipate that Centessa Pharmaceuticals will post -2 earnings per share for the current fiscal year.

In other Centessa Pharmaceuticals news, Director Aaron Kantoff acquired 10,000 shares of the stock in a transaction dated Thursday, November 18th. The stock was purchased at an average cost of $11.98 per share, with a total value of $119,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Saurabh Saha acquired 23,000 shares of the stock in a transaction dated Tuesday, November 16th. The stock was acquired at an average cost of $12.28 per share, with a total value of $282,440.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 38,000 shares of company stock valued at $464,540.

Several large investors have recently added to or reduced their stakes in CNTA. Compagnie Lombard Odier SCmA bought a new position in Centessa Pharmaceuticals in the third quarter worth approximately $46,000. JPMorgan Chase & Co. acquired a new position in shares of Centessa Pharmaceuticals during the second quarter worth approximately $47,000. Bank of America Corp DE bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter worth $54,000. Morgan Stanley acquired a new stake in Centessa Pharmaceuticals in the 3rd quarter valued at $128,000. Finally, Geode Capital Management LLC bought a new stake in Centessa Pharmaceuticals during the 2nd quarter valued at $211,000. Institutional investors own 63.51% of the company’s stock.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals Limited, a pharmaceutical company, develops and delivers life-altering and life-enhancing medicines to patients. Its products pipeline include Lixivaptan, a vasopressin V2 receptor small molecule inhibitor that is in Phase 3 clinical development for the treatment of autosomal dominant polycystic kidney disease; SerpinPC, an activated protein C inhibitor, which is in Phase 2a clinical development for the treatment of hemophilia A and B; Imgatuzumab, an anti-EGFR monoclonal antibody expected to enter a Phase 2 clinical trial for the treatment of cutaneous squamous cell carcinoma, as well as is being considered for the treatment of other solid tumors in the context of combination treatment with immunotherapy; and ZF874, a small molecule chemical chaperone folding corrector of the Z variant of alpha-1-antitrypsin in Phase 1 clinical development for the treatment of alpha-1-antitrypsin deficiency.

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