Centessa Pharmaceuticals plc (NASDAQ:CNTA) Sees Significant Decline in Short Interest

Centessa Pharmaceuticals plc (NASDAQ:CNTA) was the target of a large drop in short interest in May. As of May 31st, there was short interest totalling 1,250,000 shares, a drop of 29.0% from the May 15th total of 1,760,000 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 208,300 shares, the days-to-cover ratio is currently 6.0 days.

Analysts Set New Price Targets

Separately, BMO Capital Markets reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Centessa Pharmaceuticals in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Centessa Pharmaceuticals Trading Up 2.5 %

NASDAQ CNTA traded up $0.25 on Friday, hitting $10.18. The company’s stock had a trading volume of 191,175 shares, compared to its average volume of 184,389. The company’s 50-day moving average is $9.41 and its 200 day moving average is $9.12. The firm has a market cap of $1.02 billion, a PE ratio of -7.17 and a beta of 1.39. Centessa Pharmaceuticals has a 1-year low of $4.75 and a 1-year high of $12.45. The company has a quick ratio of 10.37, a current ratio of 10.37 and a debt-to-equity ratio of 0.36.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. As a group, analysts predict that Centessa Pharmaceuticals will post -1.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Karen M. Anderson sold 51,160 shares of Centessa Pharmaceuticals stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $11.88, for a total value of $607,780.80. Following the completion of the sale, the insider now directly owns 71,525 shares in the company, valued at $849,717. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in Centessa Pharmaceuticals by 34.1% in the fourth quarter. Franklin Resources Inc. now owns 1,115,817 shares of the company’s stock valued at $8,882,000 after acquiring an additional 283,469 shares during the period. Platinum Investment Management Ltd. raised its stake in shares of Centessa Pharmaceuticals by 12.9% during the 4th quarter. Platinum Investment Management Ltd. now owns 381,083 shares of the company’s stock valued at $3,033,000 after purchasing an additional 43,539 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Centessa Pharmaceuticals by 371.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,394 shares of the company’s stock worth $51,000 after buying an additional 5,037 shares in the last quarter. Affinity Asset Advisors LLC lifted its stake in Centessa Pharmaceuticals by 13.0% in the 3rd quarter. Affinity Asset Advisors LLC now owns 1,018,091 shares of the company’s stock worth $6,587,000 after purchasing an additional 117,368 shares in the last quarter. Finally, Acuta Capital Partners LLC bought a new stake in Centessa Pharmaceuticals during the third quarter valued at $2,092,000. 82.01% of the stock is owned by institutional investors and hedge funds.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.