Centessa Pharmaceuticals (NASDAQ:CNTA) Announces Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Centessa Pharmaceuticals reported an earnings per share (EPS) of ($0.38), missing analysts' expectations by $0.04 EPS.
• The stock price traded up by $0.52 to reach $17.13, with a market capitalization of $2.29 billion.
• Analysts continue to show confidence in the company, with a consensus rating of "Moderate Buy" and an average price target of $28.10.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.03), Zacks reports.

Centessa Pharmaceuticals Stock Up 2.3%

Shares of NASDAQ:CNTA traded up $0.41 during midday trading on Friday, hitting $18.05. The stock had a trading volume of 1,282,676 shares, compared to its average volume of 1,135,819. Centessa Pharmaceuticals has a 12 month low of $9.60 and a 12 month high of $19.09. The company has a quick ratio of 14.37, a current ratio of 10.11 and a debt-to-equity ratio of 0.32. The business's 50-day simple moving average is $14.76 and its 200-day simple moving average is $14.49. The company has a market cap of $2.42 billion, a P/E ratio of -10.08 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNTA. Wall Street Zen downgraded shares of Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday. Needham & Company LLC assumed coverage on Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a "buy" rating and a $35.00 target price for the company. Oppenheimer assumed coverage on Centessa Pharmaceuticals in a research note on Thursday, May 8th. They set an "outperform" rating and a $6.00 target price for the company. Chardan Capital reissued a "buy" rating and set a $30.00 target price on shares of Centessa Pharmaceuticals in a research note on Tuesday. Finally, Truist Financial assumed coverage on Centessa Pharmaceuticals in a research note on Monday, July 21st. They set a "buy" rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $28.10.

Insider Activity

In other Centessa Pharmaceuticals news, insider Mario Alberto Accardi sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $14.00, for a total transaction of $210,000.00. Following the completion of the sale, the insider owned 216,485 shares of the company's stock, valued at $3,030,790. This trade represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $12.63, for a total value of $694,650.00. Following the sale, the chief executive officer directly owned 221,017 shares of the company's stock, valued at $2,791,444.71. This represents a 19.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,322 shares of company stock valued at $3,300,064 over the last three months. Corporate insiders own 7.09% of the company's stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. lifted its holdings in Centessa Pharmaceuticals by 20.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,403,000 shares of the company's stock valued at $110,415,000 after purchasing an additional 1,449,000 shares during the last quarter. Commodore Capital LP lifted its holdings in Centessa Pharmaceuticals by 39.3% during the 2nd quarter. Commodore Capital LP now owns 3,298,289 shares of the company's stock valued at $43,340,000 after purchasing an additional 930,711 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Centessa Pharmaceuticals during the 2nd quarter valued at $16,052,000. Octagon Capital Advisors LP lifted its holdings in shares of Centessa Pharmaceuticals by 24.8% during the second quarter. Octagon Capital Advisors LP now owns 1,030,000 shares of the company's stock worth $13,534,000 after buying an additional 205,000 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Centessa Pharmaceuticals by 52.9% during the first quarter. Millennium Management LLC now owns 609,188 shares of the company's stock worth $8,760,000 after buying an additional 210,737 shares in the last quarter. Institutional investors and hedge funds own 82.01% of the company's stock.

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.