Centessa Pharmaceuticals (NASDAQ:CNTA) Now Covered by Piper Sandler

Equities research analysts at Piper Sandler initiated coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) in a report issued on Monday, MarketBeat reports. The firm set an "overweight" rating and a $38.00 price target on the stock. Piper Sandler's price objective would suggest a potential upside of 223.27% from the company's previous close.

CNTA has been the subject of several other reports. Guggenheim reissued a "buy" rating and issued a $28.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, March 26th. Morgan Stanley reissued an "overweight" rating and issued a $27.00 price objective on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Finally, TD Cowen assumed coverage on shares of Centessa Pharmaceuticals in a research note on Tuesday, January 7th. They set a "buy" rating on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $27.71.

Centessa Pharmaceuticals Stock Performance

Shares of NASDAQ:CNTA traded down $1.31 during midday trading on Monday, hitting $11.76. The company had a trading volume of 641,767 shares, compared to its average volume of 561,310. Centessa Pharmaceuticals has a 12-month low of $7.75 and a 12-month high of $19.09. The company has a fifty day moving average of $16.27 and a two-hundred day moving average of $16.36. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -7.69 and a beta of 1.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52.

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Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.04. On average, equities research analysts expect that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, insider Karen M. Anderson sold 30,526 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $19.03, for a total value of $580,909.78. Following the sale, the insider now owns 54,322 shares in the company, valued at $1,033,747.66. The trade was a 35.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $15.29, for a total value of $91,740.00. Following the transaction, the general counsel now owns 118,265 shares of the company's stock, valued at approximately $1,808,271.85. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,168 shares of company stock valued at $4,309,568. 11.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Centessa Pharmaceuticals

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Centessa Pharmaceuticals by 88.1% in the third quarter. The Manufacturers Life Insurance Company now owns 264,969 shares of the company's stock valued at $4,237,000 after purchasing an additional 124,075 shares in the last quarter. FMR LLC lifted its position in Centessa Pharmaceuticals by 4.6% during the third quarter. FMR LLC now owns 2,916,494 shares of the company's stock valued at $46,635,000 after purchasing an additional 129,300 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Centessa Pharmaceuticals in the 3rd quarter worth about $187,000. Fred Alger Management LLC increased its holdings in shares of Centessa Pharmaceuticals by 1,515.1% in the 3rd quarter. Fred Alger Management LLC now owns 177,553 shares of the company's stock worth $2,839,000 after buying an additional 166,560 shares during the last quarter. Finally, Baker BROS. Advisors LP raised its position in shares of Centessa Pharmaceuticals by 123.4% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,227,178 shares of the company's stock valued at $19,623,000 after buying an additional 677,966 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.