Centessa Pharmaceuticals (NASDAQ:CNTA) widened the gap after analyst update

Centessa Pharmaceuticals plc (NASDAQ:CNTA – Get Your Free Report ) traded lower in pre-market trading on Monday after BMO Capital Markets upped their target price for the stock from $20.00 to $35.00. The stock had previously closed at $16.99 but opened at $17.50. BMO Capital Markets currently has an outperform rating on the stock. Shares of Centessa Pharmaceuticals last traded at $17.16, with a volume of 32,375 shares traded.

Several other analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley boosted their price objective on Centessa Pharmaceuticals from $8.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, June 21st. Guggenheim upped their target price on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $14.00 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Centessa Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $20.60, based on data from MarketBeat.com.

Read our latest report on Centessa Pharmaceuticals

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 4,169 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the completion of the sale, the chief executive officer now directly owns 827,755 shares in the company, valued at approximately $10,197,941.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 12,198 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the completion of the transaction, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. Also, CEO Saurabh Saha sold 4,169 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the sale, the chief executive officer now owns 827,755 shares in the company, valued at $10,197,941.60. The disclosure for this sale can be found here. Insiders sold 216,873 shares of company stock worth $3,472,000 in the last quarter. 11.59% of shares are owned by corporate insiders.

Institutional investors are weighing in on Centessa Pharmaceuticals

Large investors have recently added to or reduced their holdings in the stock. First Light Asset Management LLC raised 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 purchasing an additional 1,778,515 shares during 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 buying an additional 850,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Centessa Pharmaceuticals by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock worth $33,427,000 after buying an additional 418,615 shares during the last quarter. Driehaus Capital Management LLC raised its position in Centessa Pharmaceuticals by 89.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock valued at $18,891,000 after acquiring an additional 987,997 shares in the period time. Finally, Octagon Capital Advisors LP raised its stake in Centessa Pharmaceuticals by 333.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock valued at $16,398,000. after acquiring an additional 1,584,500 shares in the last quarter. 82.01% of the shares are owned by institutional investors and hedge funds.

Centessa Pharmaceuticals stock fell 3.1%

The company has a market cap of $1.65 billion, a price-to-earnings ratio of -11.59 and a beta of 1.44. The stock has a 50-day simple moving average of $11.91 and a 200-day simple moving average of $10.53. 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 Your Free Report ) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). As a group, analysts predict that Centessa Pharmaceuticals plc will post -1.61 EPS for the current year.

Centessa Pharmaceuticals Company Profile

(Get a free report)

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops and delivers medicines to patients. Its products include SerpinPC, an activated protein C inhibitor, which is in phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential extension into other sleep disorders.

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