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

Centessa Pharmaceuticals plc (NASDAQ:CNTA) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,150,000 shares, a growth of 7.0% from the October 15th total of 2,010,000 shares. Based on an average daily trading volume, of 604,100 shares, the days-to-cover ratio is currently 3.6 days. Currently, 2.7% of the company’s stock are sold short.

Centessa Pharmaceuticals Trading Up 3.9 %

Shares of Centessa Pharmaceuticals stock traded up $0.62 during trading on Tuesday, reaching $16.72. The company’s stock had a trading volume of 126,034 shares, compared to its average volume of 405,852. The business has a 50 day moving average price of $15.92 and a 200-day moving average price of $12.20. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. Centessa Pharmaceuticals has a 12-month low of $5.58 and a 12-month high of $18.74.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05. Equities analysts predict that Centessa Pharmaceuticals will post -1.62 EPS for the current fiscal year.

Insider Activity

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 2,592 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.32, for a total transaction of $39,709.44. Following the completion of the transaction, the chief executive officer now owns 630,661 shares in the company, valued at $9,661,726.52. This trade represents a 0.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gregory M. Weinhoff sold 12,198 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total value of $148,449.66. Following the sale, the insider now owns 241,171 shares in the company, valued at $2,935,051.07. The trade was a 4.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,862 shares of company stock worth $5,161,681. Corporate insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC purchased a new position in Centessa Pharmaceuticals during the first quarter worth about $33,923,000. Farallon Capital Management LLC lifted its holdings in shares of Centessa Pharmaceuticals by 438.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock worth $18,024,000 after acquiring an additional 1,625,000 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter worth approximately $20,698,000. Driehaus Capital Management LLC grew its holdings in Centessa Pharmaceuticals by 89.5% in the second quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock valued at $18,891,000 after purchasing an additional 987,997 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Centessa Pharmaceuticals by 54.1% during the third quarter. Point72 Asset Management L.P. now owns 2,715,663 shares of the company’s stock worth $43,423,000 after purchasing an additional 953,659 shares during the last quarter. Institutional investors and hedge funds own 82.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CNTA shares. Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. BMO Capital Markets boosted their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Guggenheim upped their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Finally, B. Riley began coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $25.83.

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.