Lord Abbett & CO. LLC Acquires Shares of 269,205 Centessa Pharmaceuticals plc (NASDAQ:CNTA)

Lord Abbett & CO. LLC purchased a new stake in shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 269,205 shares of the company's stock, valued at approximately $4,305,000. Lord Abbett & CO. LLC owned approximately 0.20% of Centessa Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. First Light Asset Management LLC grew its position in Centessa Pharmaceuticals by 59.2% in the second quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company's stock worth $43,168,000 after acquiring an additional 1,778,515 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in Centessa Pharmaceuticals by 27.6% in the second 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. FMR LLC increased 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 worth $46,635,000 after buying an additional 129,300 shares during the last quarter. Point72 Asset Management L.P. raised its holdings 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 valued at $43,423,000 after buying an additional 953,659 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Centessa Pharmaceuticals by 99.1% during the third quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company's stock valued at $38,360,000 after buying an additional 1,145,823 shares in the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNTA has been the topic of a number of analyst reports. BMO Capital Markets increased their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an "outperform" rating in a 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 target for the company from $11.00 to $26.00 in a research report on Thursday, September 19th. B. Riley began coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They set a "buy" rating and a $33.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, Guggenheim boosted their target price on shares of Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $25.83.

Insiders Place Their Bets

In other news, CEO Saurabh Saha sold 1,671 shares of Centessa Pharmaceuticals stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $18.24, for a total transaction of $30,479.04. Following the sale, the chief executive officer now directly owns 575,661 shares in the company, valued at approximately $10,500,056.64. The trade was a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karen M. Anderson sold 10,624 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.32, for a total transaction of $184,007.68. Following the transaction, the insider now owns 71,525 shares of the company's stock, valued at approximately $1,238,813. This represents a 12.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,642 shares of company stock worth $6,375,876. 11.59% of the stock is currently owned by company insiders.

Centessa Pharmaceuticals Stock Performance

CNTA stock traded up $0.85 on Tuesday, reaching $17.60. 816,790 shares of the company were exchanged, compared to its average volume of 431,601. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. Centessa Pharmaceuticals plc has a 12 month low of $6.65 and a 12 month high of $18.97. The stock's fifty day moving average price is $16.56 and its 200 day moving average price is $13.46. The firm has a market capitalization of $2.32 billion, a PE ratio of -11.50 and a beta of 1.52.

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

Centessa Pharmaceuticals 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.