Short Interest in Centessa Pharmaceuticals plc (NASDAQ:CNTA) Expands By 7.0%

Centessa Pharmaceuticals plc (NASDAQ:CNTA) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 2,150,000 shares, a growth of 7.0% from the October 15th total of 2,010,000 shares. Based on an average daily trading volume, of 604,100 shares, the days-to-cover ratio is currently 3.6 days. Approximately 2.7% of the shares of the company are short sold.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 175,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the completion of the sale, the chief executive officer now directly owns 776,924 shares in the company, valued at $12,834,784.48. The trade was a 18.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gregory M. Weinhoff sold 12,198 shares of the business’s 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 sale, the insider now owns 241,171 shares of the company’s stock, valued at approximately $2,935,051.07. This represents a 4.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325,031 shares of company stock worth $5,213,043. 11.59% of the stock is owned by corporate insiders.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Centessa Pharmaceuticals by 68.7% during the 3rd quarter. Geode Capital Management LLC now owns 56,597 shares of the company’s stock worth $905,000 after acquiring an additional 23,058 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Centessa Pharmaceuticals during the 3rd quarter valued at approximately $2,834,000. Wellington Management Group LLP bought a new position in shares of Centessa Pharmaceuticals during the 3rd quarter valued at approximately $1,609,000. State Street Corp bought a new position in shares of Centessa Pharmaceuticals during the 3rd quarter valued at approximately $777,000. Finally, RTW Investments LP bought a new position in shares of Centessa Pharmaceuticals during the 3rd quarter valued at approximately $800,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

Centessa Pharmaceuticals Price Performance

NASDAQ CNTA traded up $0.10 during trading hours on Monday, reaching $16.10. The company’s stock had a trading volume of 805,547 shares, compared to its average volume of 407,107. The firm’s 50-day moving average price is $15.92 and its 200-day moving average price is $12.20. The company has a quick ratio of 13.29, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. Centessa Pharmaceuticals has a 1 year low of $5.58 and a 1 year high of $18.74. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -10.52 and a beta of 1.47.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. On average, equities research analysts predict that Centessa Pharmaceuticals will post -1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNTA has been the subject of a number of recent research reports. Oppenheimer restated an “outperform” rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. B. Riley initiated coverage on Centessa Pharmaceuticals in a research note on Thursday, September 19th. They set a “buy” rating and a $33.00 price objective for the company. Morgan Stanley upgraded Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $26.00 in a research note on Thursday, September 19th. BMO Capital Markets boosted their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, Guggenheim boosted their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday. Six research 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 price target of $25.83.

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.