Centessa Pharmaceuticals (NASDAQ:CNTA) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Centessa Pharmaceuticals (NASDAQ:CNTA) posted its earnings results on Tuesday. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05, Zacks reports.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA stock traded up $1.18 on Wednesday, hitting $18.18. The stock had a trading volume of 711,356 shares, compared to its average volume of 399,751. The stock’s 50 day moving average is $15.74 and its 200-day moving average is $11.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 13.29 and a quick ratio of 13.29. Centessa Pharmaceuticals has a 52-week low of $5.58 and a 52-week high of $18.74.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CNTA shares. Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $11.00 to $26.00 in a research note on Thursday, September 19th. B. Riley started coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, September 19th. They issued a “buy” rating and a $33.00 price target on the stock. Jefferies Financial Group upped their target price on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Finally, BMO Capital Markets upped their target price on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.17.

Insider Activity

In other news, insider Gregory M. Weinhoff sold 11,742 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $15.38, for a total transaction of $180,591.96. Following the completion of the transaction, the insider now directly owns 183,266 shares of the company’s stock, valued at approximately $2,818,631.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Saurabh Saha sold 4,169 shares of the firm’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 sale, the chief executive officer now directly owns 827,755 shares in the company, valued at $10,197,941.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory M. Weinhoff sold 11,742 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $15.38, for a total value of $180,591.96. Following the completion of the transaction, the insider now directly owns 183,266 shares of the company’s stock, valued at approximately $2,818,631.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 325,031 shares of company stock valued at $5,213,043. Company insiders own 11.59% of the company’s stock.

Centessa Pharmaceuticals Company 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.