Guggenheim Forecasts Strong Price Appreciation for Centessa Pharmaceuticals (NASDAQ:CNTA) Stock

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) had its target price lifted by equities researchers at 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. Guggenheim's target price indicates a potential upside of 75.00% from the company's current price.

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

Centessa Pharmaceuticals Price Performance

Shares of CNTA traded down $1.50 during trading hours on Friday, hitting $16.00. 730,650 shares of the stock were exchanged, compared to its average volume of 404,940. The stock's 50-day moving average price is $15.90 and its two-hundred day moving average price is $12.14. Centessa Pharmaceuticals has a 12-month low of $5.58 and a 12-month high of $18.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.29 and a current ratio of 21.52. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -10.46 and a beta of 1.47.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.05. Research analysts expect that Centessa Pharmaceuticals will post -1.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Saurabh Saha sold 175,000 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the completion of the transaction, the chief executive officer now directly owns 776,924 shares in the company, valued at $12,834,784.48. This trade represents a 18.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gregory M. Weinhoff sold 12,198 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total transaction of $148,449.66. Following the sale, the insider now owns 241,171 shares in the company, valued at $2,935,051.07. This trade represents a 4.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 325,031 shares of company stock valued at $5,213,043 over the last 90 days. 11.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNTA. Mirae Asset Global Investments Co. Ltd. boosted 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 purchasing an additional 826 shares during the period. GAMMA Investing LLC boosted its stake in shares of Centessa Pharmaceuticals by 103.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company's stock valued at $48,000 after buying an additional 1,509 shares during the period. Quarry LP grew its position in shares of Centessa Pharmaceuticals by 47.8% during the second quarter. Quarry LP now owns 9,608 shares of the company's stock worth $87,000 after buying an additional 3,108 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Centessa Pharmaceuticals during the first quarter worth approximately $109,000. Finally, Sandia Investment Management LP acquired a new stake in Centessa Pharmaceuticals in the second quarter valued at approximately $90,000. Hedge funds and other institutional investors own 82.01% of the company's stock.

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.