Centessa Pharmaceuticals (NASDAQ:CNTA) Sets New 1-Year High - What's Next?

Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.72 and last traded at $17.66, with a volume of 358444 shares traded. The stock had previously closed at $16.73.

Analysts Set New Price Targets

Several analysts have weighed in on CNTA shares. Jefferies Financial Group boosted their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. BMO Capital Markets raised their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an "outperform" rating in a research note on Monday, September 16th. Morgan Stanley raised shares of Centessa Pharmaceuticals from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. B. Riley started coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a "buy" rating and a $33.00 price objective on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $25.17.

Centessa Pharmaceuticals Stock Up 2.5 %

The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -10.72 and a beta of 1.47. The firm's 50 day moving average price is $15.67 and its two-hundred day moving average price is $11.93. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.02). Sell-side analysts anticipate that Centessa Pharmaceuticals plc will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 175,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total value of $2,891,000.00. Following the completion of the sale, the chief executive officer now owns 776,924 shares of the company's stock, valued at $12,834,784.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Gregory M. Weinhoff sold 11,742 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $15.38, for a total transaction of $180,591.96. Following the completion of the sale, the insider now owns 183,266 shares of the company's stock, valued at approximately $2,818,631.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Saurabh Saha sold 175,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 776,924 shares of the company's stock, valued at approximately $12,834,784.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 325,031 shares of company stock valued at $5,213,043 in the last quarter. Company insiders own 11.59% of the company's stock.

Institutional Trading of Centessa Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC acquired a new position in Centessa Pharmaceuticals during the 1st quarter worth approximately $33,923,000. Farallon Capital Management LLC increased its position in 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 purchasing an additional 1,625,000 shares in the last quarter. Driehaus Capital Management LLC increased its position in Centessa Pharmaceuticals by 89.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company's stock worth $18,891,000 after purchasing an additional 987,997 shares in the last quarter. Perceptive Advisors LLC increased its position in Centessa Pharmaceuticals by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company's stock worth $35,518,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in Centessa Pharmaceuticals during the 2nd quarter worth approximately $4,064,000. 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 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.

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