Centessa Pharmaceuticals (NASDAQ:CNTA) Given Overweight Rating at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Centessa Pharmaceuticals (NASDAQ:CNTA - Free Report) in a research report released on Friday,Benzinga reports. Morgan Stanley currently has a $27.00 price target on the stock.

Several other research firms also recently commented on CNTA. TD Cowen began coverage on shares of Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They set a "buy" rating on the stock. Guggenheim reiterated a "buy" rating on shares of Centessa Pharmaceuticals in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $26.00.

Centessa Pharmaceuticals Trading Up 4.2 %

Shares of CNTA stock traded up $0.67 during mid-day trading on Friday, reaching $16.47. 1,290,430 shares of the stock traded hands, compared to its average volume of 845,442. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -10.76 and a beta of 1.54. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The stock's fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $16.24. Centessa Pharmaceuticals has a 1-year low of $7.75 and a 1-year high of $19.09.

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Insider Activity

In other news, General Counsel Iqbal J. Hussain sold 77,705 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $16.39, for a total value of $1,273,584.95. Following the transaction, the general counsel now directly owns 125,785 shares of the company's stock, valued at $2,061,616.15. The trade was a 38.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Saurabh Saha sold 55,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.93, for a total value of $876,150.00. Following the sale, the chief executive officer now directly owns 331,017 shares of the company's stock, valued at $5,273,100.81. This represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 359,186 shares of company stock valued at $6,017,106. 11.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CNTA. Atria Investments Inc increased its stake in Centessa Pharmaceuticals by 7.0% in the third quarter. Atria Investments Inc now owns 17,134 shares of the company's stock valued at $274,000 after purchasing an additional 1,116 shares in the last quarter. GSA Capital Partners LLP increased its position in Centessa Pharmaceuticals by 66.1% in the 3rd quarter. GSA Capital Partners LLP now owns 93,658 shares of the company's stock valued at $1,498,000 after buying an additional 37,275 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Centessa Pharmaceuticals by 88.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 264,969 shares of the company's stock valued at $4,237,000 after buying an additional 124,075 shares in the last quarter. FMR LLC raised its stake in Centessa Pharmaceuticals by 4.6% during the 3rd 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 period. Finally, Ally Bridge Group NY LLC bought a new position in Centessa Pharmaceuticals in the third quarter worth approximately $4,951,000. Institutional investors and hedge funds 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.