Centessa Pharmaceuticals (NASDAQ:CNTA) Trading 4.5% Higher

Centessa Pharmaceuticals plc (NASDAQ:CNTA) was up 4.5% on Wednesday . The company traded as high as $10.43 and last traded at $10.31. Approximately 256,880 shares were traded during trading, a decline of 16% from the average daily volume of 305,066 shares. The stock had previously closed at $9.87.

Analysts Set New Price Targets

A number of brokerages have commented on CNTA. BMO Capital Markets reaffirmed an “outperform” rating and set a $15.00 price target on shares of Centessa Pharmaceuticals in a research report on Monday, April 1st. Morgan Stanley upped their target price on Centessa Pharmaceuticals from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, June 21st. Finally, Oppenheimer began coverage on Centessa Pharmaceuticals in a report on Thursday, July 18th. They issued an “outperform” rating and a $14.00 target price for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Centessa Pharmaceuticals Price Performance

The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.59 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.37 and a quick ratio of 10.37. The business’s fifty day moving average price is $9.10 and its 200-day moving average price is $9.55.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.03. On average, research analysts forecast that Centessa Pharmaceuticals plc will post -1.62 EPS for the current year.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. First Light Asset Management LLC bought a new position in shares of Centessa Pharmaceuticals during the 1st quarter worth $33,923,000. Price T Rowe Associates Inc. MD lifted its holdings in Centessa Pharmaceuticals by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock valued at $33,427,000 after purchasing an additional 418,615 shares during the last quarter. Octagon Capital Advisors LP boosted its position in Centessa Pharmaceuticals by 333.2% during the fourth quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock worth $16,398,000 after purchasing an additional 1,584,500 shares during the period. Artal Group S.A. raised its position in shares of Centessa Pharmaceuticals by 39.5% in the first quarter. Artal Group S.A. now owns 1,412,500 shares of the company’s stock valued at $15,961,000 after purchasing an additional 400,000 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Centessa Pharmaceuticals by 34.1% during the 4th quarter. Franklin Resources Inc. now owns 1,115,817 shares of the company’s stock valued at $8,882,000 after acquiring an additional 283,469 shares during the period. Institutional investors own 82.01% of the company’s stock.

Centessa Pharmaceuticals Company Profile

Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its pipeline 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 expansion into other sleep disorders.