The Manufacturers Life Insurance Company Acquires 124,075 Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA)

The Manufacturers Life Insurance Company raised its position in shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA - Free Report) by 88.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264,969 shares of the company's stock after acquiring an additional 124,075 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.23% of Centessa Pharmaceuticals worth $4,237,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CNTA. GSA Capital Partners LLP lifted its position in shares of Centessa Pharmaceuticals by 66.1% during the 3rd 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 last quarter. Atria Investments Inc increased its position in Centessa Pharmaceuticals by 7.0% in the 3rd quarter. Atria Investments Inc now owns 17,134 shares of the company's stock worth $274,000 after buying an additional 1,116 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Centessa Pharmaceuticals by 99.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,593 shares of the company's stock worth $217,000 after buying an additional 6,785 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 acquiring an additional 826 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Centessa Pharmaceuticals in the third quarter worth $259,000. 82.01% of the stock is currently owned by institutional investors.

Centessa Pharmaceuticals Price Performance

CNTA traded up $1.18 during midday trading on Friday, reaching $18.67. 690,784 shares of the company's stock were exchanged, compared to its average volume of 682,048. Centessa Pharmaceuticals plc has a one year low of $6.15 and a one year high of $18.77. The firm 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 50-day simple moving average of $16.41 and a two-hundred day simple moving average of $12.96. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.05. As a group, research analysts predict that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Insider Buying and Selling

In related news, insider Gregory M. Weinhoff sold 10,000 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $17.66, for a total value of $176,600.00. Following the completion of the transaction, the insider now owns 183,266 shares in the company, valued at $3,236,477.56. The trade was a 5.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Saurabh Saha sold 175,000 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total value of $2,891,000.00. Following the transaction, the chief executive officer now directly owns 776,924 shares in the company, valued at approximately $12,834,784.48. This represents a 18.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 462,624 shares of company stock worth $7,763,698 in the last three months. Insiders own 11.59% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNTA. B. Riley initiated coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a "buy" rating and a $33.00 price target for the company. Morgan Stanley upgraded shares of Centessa Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. Guggenheim lifted their target price on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Oppenheimer reaffirmed an "outperform" rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Finally, Jefferies Financial Group raised their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $25.83.

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.