Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 5.9% Higher - Should You Buy?

Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report) was up 5.9% during trading on Friday . The company traded as high as $18.67 and last traded at $18.52. Approximately 66,692 shares changed hands during trading, a decline of 84% from the average daily volume of 416,439 shares. The stock had previously closed at $17.49.

Wall Street Analyst Weigh In

CNTA has been the subject of several research analyst reports. B. Riley assumed coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a "buy" rating and a $33.00 price objective for the company. BMO Capital Markets upped their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an "outperform" rating in a research report on Monday, September 16th. Morgan Stanley raised shares of Centessa Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $11.00 to $26.00 in a report on Thursday, September 19th. Jefferies Financial Group increased their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Finally, Guggenheim lifted their price target on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a "buy" rating in a report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Centessa Pharmaceuticals has an average rating of "Buy" and an average target price of $25.83.

Centessa Pharmaceuticals Trading Up 6.7 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -12.20 and a beta of 1.52. The business has a fifty day moving average of $16.41 and a 200-day moving average of $12.96.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. On average, equities analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Saurabh Saha sold 175,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the transaction, the chief executive officer now directly owns 776,924 shares of the company's stock, valued at approximately $12,834,784.48. The trade was a 18.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory M. Weinhoff sold 25,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.00, for a total transaction of $375,000.00. Following the completion of the sale, the insider now owns 223,369 shares of the company's stock, valued at approximately $3,350,535. The trade was a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,624 shares of company stock worth $7,763,698 over the last ninety days. 11.59% of the stock is currently owned by company insiders.

Institutional Trading of Centessa Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC acquired a new position in Centessa Pharmaceuticals in the 2nd quarter valued at $4,064,000. Driehaus Capital Management LLC grew its position in shares of 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 last quarter. Ally Bridge Group NY LLC acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter valued at about $4,951,000. GSA Capital Partners LLP increased its stake in shares of Centessa Pharmaceuticals by 66.1% in the third quarter. GSA Capital Partners LLP now owns 93,658 shares of the company's stock worth $1,498,000 after purchasing an additional 37,275 shares during the period. Finally, First Light Asset Management LLC lifted its position in shares of Centessa Pharmaceuticals by 59.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company's stock worth $43,168,000 after purchasing an additional 1,778,515 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.