Centessa Pharmaceuticals (NASDAQ:CNTA) Price Target Raised to $35.00

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price objective hoisted by BMO Capital Markets from $20.00 to $35.00 in a research report released on Monday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an equal weight rating in a research note on Friday, June 21st. Guggenheim lifted their target price on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Jefferies Financial Group lifted their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Finally, Oppenheimer reaffirmed an outperform rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centessa Pharmaceuticals currently has an average rating of Moderate Buy and an average price target of $20.60.

Centessa Pharmaceuticals Stock Performance

NASDAQ CNTA opened at $15.71 on Monday. The company has a market capitalization of $1.58 billion, a PE ratio of -11.06 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 13.29 and a current ratio of 13.29. The company has a 50-day simple moving average of $12.15 and a 200 day simple moving average of $10.60. Centessa Pharmaceuticals has a 52-week low of $5.15 and a 52-week high of $17.59.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results 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). On average, research analysts predict that Centessa Pharmaceuticals will post -1.61 EPS for the current year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 4,169 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 document filed with the SEC, which is available at this hyperlink. In related news, CEO Saurabh Saha sold 4,169 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory M. Weinhoff sold 12,198 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total transaction of $148,449.66. Following the transaction, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. The disclosure for this sale can be found here. Insiders sold a total of 216,873 shares of company stock worth $3,472,000 over the last three months. 11.59% of the stock is owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Light Asset Management LLC bought a new position in Centessa Pharmaceuticals in the 1st quarter worth about $33,923,000. Farallon Capital Management LLC lifted its stake in Centessa Pharmaceuticals by 438.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock valued at $18,024,000 after acquiring an additional 1,625,000 shares during the period. Octagon Capital Advisors LP lifted 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 during the period. Driehaus Capital Management LLC lifted its stake in Centessa Pharmaceuticals by 89.5% during 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 during the period. Finally, Perceptive Advisors LLC lifted its stake in Centessa Pharmaceuticals by 27.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after acquiring an additional 850,000 shares during the period. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.