Centessa Pharmaceuticals (NASDAQ:CNTA) Posts Quarterly Earnings Results

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) released its quarterly earnings data on Tuesday. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03), Zacks reports.

Centessa Pharmaceuticals Stock Up 3.0%

Shares of NASDAQ CNTA opened at $17.11 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 14.37 and a quick ratio of 14.37. The company has a market cap of $2.29 billion, a P/E ratio of -9.45 and a beta of 1.48. Centessa Pharmaceuticals has a 1 year low of $9.60 and a 1 year high of $19.09. The firm has a 50-day simple moving average of $14.43 and a two-hundred day simple moving average of $14.47.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 10,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $15.56, for a total value of $155,600.00. Following the completion of the sale, the insider owned 122,279 shares of the company's stock, valued at $1,902,661.24. This trade represents a 7.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun Goyal acquired 417,646 shares of the firm's stock in a transaction on Friday, May 16th. The stock was purchased at an average cost of $12.73 per share, with a total value of $5,316,633.58. Following the purchase, the director owned 462,585 shares of the company's stock, valued at $5,888,707.05. The trade was a 929.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 230,322 shares of company stock valued at $3,196,684 over the last quarter. Corporate insiders own 7.09% of the company's stock.

Institutional Trading of Centessa Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in CNTA. Geode Capital Management LLC raised its stake in shares of Centessa Pharmaceuticals by 44.7% during the second quarter. Geode Capital Management LLC now owns 87,435 shares of the company's stock valued at $1,149,000 after acquiring an additional 26,994 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Centessa Pharmaceuticals by 29.2% during the second quarter. Legal & General Group Plc now owns 98,256 shares of the company's stock valued at $1,291,000 after acquiring an additional 22,205 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Centessa Pharmaceuticals during the first quarter valued at approximately $2,176,000. JPMorgan Chase & Co. raised its stake in shares of Centessa Pharmaceuticals by 155.4% during the second quarter. JPMorgan Chase & Co. now owns 428,434 shares of the company's stock valued at $5,630,000 after acquiring an additional 260,702 shares in the last quarter. Finally, Millennium Management LLC raised its stake 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 valued at $8,760,000 after acquiring an additional 210,737 shares in the last quarter. Institutional investors own 82.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on CNTA shares. Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a report on Thursday, May 8th. They set an "outperform" rating and a $6.00 price objective for the company. Needham & Company LLC initiated coverage on shares of Centessa Pharmaceuticals in a report on Wednesday, May 28th. They set a "buy" rating and a $35.00 price objective for the company. Wall Street Zen raised shares of Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Truist Financial initiated coverage on shares of Centessa Pharmaceuticals in a report on Monday, July 21st. They issued a "buy" rating and a $30.00 price target for the company. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $30.00 price target on shares of Centessa Pharmaceuticals in a report on Tuesday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Centessa Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $28.10.

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.