Wells Fargo & Company Initiates Coverage on Centessa Pharmaceuticals (NASDAQ:CNTA)

Key Points

• Wells Fargo & Company has initiated coverage of Centessa Pharmaceuticals with an "overweight" rating and a price target of $31.00, indicating a potential upside of 79.50% from its last close.
• The stock has received varying ratings from multiple analysts, with twelve rating it as a Buy and an average consensus price target of $31.45.
• Centessa Pharmaceuticals recently reported a quarterly earnings miss, posting a loss of ($0.38) per share, falling short of the consensus estimate by ($0.03).

Wells Fargo & Company initiated coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA - Free Report) in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $31.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. 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 price objective on the stock. Chardan Capital reiterated a "buy" rating and set a $30.00 price objective on shares of Centessa Pharmaceuticals in a research note on Tuesday, August 12th. Oppenheimer began coverage on Centessa Pharmaceuticals in a report on Friday, August 29th. They set an "outperform" rating and a $40.00 price target for the company. Finally, Truist Financial began coverage on Centessa Pharmaceuticals in a report on Monday, July 21st. They set a "buy" rating and a $30.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. According to MarketBeat.com, Centessa Pharmaceuticals presently has an average rating of "Buy" and an average target price of $31.45.

Centessa Pharmaceuticals Trading Down 0.4%

Shares of CNTA stock traded down $0.06 on Wednesday, reaching $15.73. The company had a trading volume of 950,166 shares, compared to its average volume of 988,284. The company has a current ratio of 10.11, a quick ratio of 10.12 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.11 billion, a PE ratio of -8.79 and a beta of 1.47. The company has a 50-day moving average of $15.99 and a 200-day moving average of $14.45. Centessa Pharmaceuticals has a 12 month low of $9.60 and a 12 month high of $19.09.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.03). On average, equities analysts forecast that Centessa Pharmaceuticals will post -1.6 earnings per share for the current year.

Insider Activity

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 55,000 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $15.92, for a total transaction of $875,600.00. Following the completion of the transaction, the chief executive officer owned 221,017 shares of the company's stock, valued at approximately $3,518,590.64. The trade was a 19.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mario Alberto Accardi sold 8,322 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $15.23, for a total value of $126,744.06. Following the sale, the insider directly owned 208,163 shares in the company, valued at $3,170,322.49. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,322 shares of company stock valued at $2,472,814. Corporate insiders own 7.09% of the company's stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Centessa Pharmaceuticals by 1,509.6% during the 1st quarter. GAMMA Investing LLC now owns 61,762 shares of the company's stock valued at $888,000 after purchasing an additional 57,925 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Centessa Pharmaceuticals in the fourth quarter valued at about $162,000. OMERS ADMINISTRATION Corp purchased a new position in Centessa Pharmaceuticals in the fourth quarter valued at about $171,000. Cerity Partners LLC purchased a new position in Centessa Pharmaceuticals in the first quarter valued at about $471,000. Finally, American Century Companies Inc. increased its stake in shares of Centessa Pharmaceuticals by 1.2% in the first quarter. American Century Companies Inc. now owns 1,092,754 shares of the company's stock worth $15,714,000 after purchasing an additional 13,046 shares in the last quarter. Institutional investors 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.