Centessa Pharmaceuticals (NASDAQ:CNTA) Hits New 1-Year High Following Better-Than-Expected Earnings

Centessa Pharmaceuticals plc (NASDAQ:CNTA) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $17.72 and last traded at $17.66, with a volume of 358444 shares traded. The stock had previously closed at $16.73.

The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Gregory M. Weinhoff sold 11,742 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $15.38, for a total value of $180,591.96. Following the sale, the insider now directly owns 183,266 shares in the company, valued at $2,818,631.08. This trade 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 is available at the SEC website. In other news, insider Gregory M. Weinhoff sold 11,742 shares of the firm’s stock in a transaction dated 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 owns 183,266 shares in the company, valued at $2,818,631.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory M. Weinhoff sold 12,198 shares of Centessa Pharmaceuticals stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total value of $148,449.66. Following the completion of the sale, the insider now directly owns 241,171 shares in the company, valued at approximately $2,935,051.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 325,031 shares of company stock valued at $5,213,043 in the last quarter. 11.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock worth $40,000 after buying an additional 826 shares during the last quarter. Atria Investments Inc grew its position in shares of Centessa Pharmaceuticals by 7.0% in the 3rd quarter. Atria Investments Inc now owns 17,134 shares of the company’s stock valued at $274,000 after acquiring an additional 1,116 shares during the period. GAMMA Investing LLC increased its stake in shares of Centessa Pharmaceuticals by 103.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,972 shares of the company’s stock worth $48,000 after purchasing an additional 1,509 shares during the last quarter. Quarry LP increased its stake in shares of Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after purchasing an additional 3,108 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Centessa Pharmaceuticals by 99.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,593 shares of the company’s stock valued at $217,000 after purchasing an additional 6,785 shares during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

Centessa Pharmaceuticals Price Performance

The company’s 50 day moving average is $15.81 and its 200-day moving average is $12.03. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -11.82 and a beta of 1.47. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27.

About Centessa Pharmaceuticals

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.