Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up to $9.02

Centessa Pharmaceuticals plc (NASDAQ:CNTA) gapped up prior to trading on Wednesday . The stock had previously closed at $9.02, but opened at $9.94. Centessa Pharmaceuticals shares last traded at $9.79, with a volume of 4,631 shares trading hands.

Wall Street Analysts Forecast Growth

CNTA has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Centessa Pharmaceuticals in a research note on Monday, April 1st. Morgan Stanley boosted their price objective on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.50.

Centessa Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $8.94 and a 200 day simple moving average of $9.38. The firm has a market cap of $993.75 million, a PE ratio of -6.96 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.37 and a quick ratio of 10.37.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. As a group, equities analysts expect that Centessa Pharmaceuticals plc will post -1.67 EPS for the current year.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several large investors have recently modified their holdings of the stock. First Light Asset Management LLC purchased a new position in Centessa Pharmaceuticals in the 1st quarter worth about $33,923,000. Octagon Capital Advisors LP lifted its holdings in shares of Centessa Pharmaceuticals by 333.2% in the fourth quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock worth $16,398,000 after buying an additional 1,584,500 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Centessa Pharmaceuticals by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock valued at $33,427,000 after buying an additional 418,615 shares in the last quarter. Artal Group S.A. grew its stake in shares of Centessa Pharmaceuticals by 39.5% in the 1st quarter. Artal Group S.A. now owns 1,412,500 shares of the company’s stock worth $15,961,000 after buying an additional 400,000 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in shares of Centessa Pharmaceuticals in the 1st quarter worth about $4,192,000. Hedge funds and other institutional investors own 82.01% of the company’s stock.

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.