Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Expected to Rise, Guggenheim Analyst Says

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price target increased by Guggenheim from $24.00 to $28.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on CNTA. B. Riley began coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Jefferies Financial Group upped their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets raised their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $25.83.

Centessa Pharmaceuticals Price Performance

CNTA stock traded down $1.50 during mid-day trading on Friday, hitting $16.00. The company had a trading volume of 730,650 shares, compared to its average volume of 404,940. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -10.46 and a beta of 1.47. The company has a 50-day moving average price of $15.90 and a 200 day moving average price of $12.12. Centessa Pharmaceuticals has a 12-month low of $5.58 and a 12-month high of $18.74. The company has a quick ratio of 13.29, a current ratio of 21.52 and a debt-to-equity ratio of 0.15.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. On average, research analysts anticipate that Centessa Pharmaceuticals will post -1.68 earnings per share for the current year.

Insider Transactions at Centessa Pharmaceuticals

In other news, insider Gregory M. Weinhoff sold 11,742 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $15.38, for a total value of $180,591.96. Following the completion of the transaction, the insider now owns 183,266 shares in the company, valued at approximately $2,818,631.08. The trade was a 6.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saurabh Saha sold 2,592 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.32, for a total transaction of $39,709.44. Following the transaction, the chief executive officer now owns 630,661 shares in the company, valued at $9,661,726.52. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 325,031 shares of company stock valued at $5,213,043. Insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several hedge funds have recently made changes to their positions in CNTA. Mirae Asset Global Investments Co. Ltd. increased its holdings in Centessa Pharmaceuticals by 47.7% in the third 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 increased its stake in Centessa Pharmaceuticals by 103.1% during the third quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after acquiring an additional 1,509 shares during the last quarter. Quarry LP lifted its holdings in shares of Centessa Pharmaceuticals by 47.8% in the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after acquiring an additional 3,108 shares during the last quarter. Sandia Investment Management LP purchased a new position in Centessa Pharmaceuticals during the 2nd quarter valued at about $90,000. Finally, Fred Alger Management LLC purchased a new position in Centessa Pharmaceuticals in the second quarter valued at $99,000. 82.01% of the stock is owned by institutional investors and hedge funds.

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.