Centessa Pharmaceuticals (NASDAQ:CNTA) Hits New 1-Year High - Here's What Happened

Key Points

• Centessa Pharmaceuticals (NASDAQ:CNTA) reached a new 52-week high of $19.16, closing at $19.11 with a trading volume of nearly 500,000 shares.
• Several analysts have issued positive ratings for the stock, with a consensus target price of $31.45 and a notable upgrade to a "strong-buy" rating from Lifesci Capital.
• Insider selling activity was noted, with General Counsel Iqbal J. Hussain selling 6,000 shares, reducing his ownership by 5.39% amidst a broader trend of insider sales totaling over $2.4 million in shares.

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $19.16 and last traded at $19.11, with a volume of 499729 shares trading hands. The stock had previously closed at $18.03.

Analyst Upgrades and Downgrades

CNTA has been the topic of several recent research reports. Truist Financial began coverage on shares of Centessa Pharmaceuticals in a report on Monday, July 21st. They issued a "buy" rating and a $30.00 price target on the stock. Wells Fargo & Company started coverage on Centessa Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $31.00 price target for the company. Chardan Capital reiterated a "buy" rating and issued a $30.00 target price on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. Needham & Company LLC initiated coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They issued a "buy" rating and a $35.00 price target for the company. Finally, Lifesci Capital raised shares of Centessa Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $31.45.

Centessa Pharmaceuticals Trading Up 10.4%

The company has a 50 day moving average of $16.09 and a 200 day moving average of $14.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.12 and a current ratio of 10.11. The firm has a market cap of $2.67 billion, a P/E ratio of -11.13 and a beta of 1.47.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current fiscal year.

Insider Activity at Centessa Pharmaceuticals

In related news, General Counsel Iqbal J. Hussain sold 6,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $17.23, for a total value of $103,380.00. Following the sale, the general counsel owned 105,386 shares of the company's stock, valued at approximately $1,815,800.78. This trade represents a 5.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mario Alberto Accardi sold 8,322 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $15.23, for a total transaction of $126,744.06. Following the transaction, the insider directly owned 208,163 shares of the company's stock, valued at $3,170,322.49. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,322 shares of company stock worth $2,472,814. 7.09% of the stock is owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Centessa Pharmaceuticals in the fourth quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its position in Centessa Pharmaceuticals by 15,209.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company's stock worth $46,000 after acquiring an additional 3,194 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in Centessa Pharmaceuticals during the first quarter worth $47,000. Barclays PLC raised its position in Centessa Pharmaceuticals by 1,414.9% during the fourth quarter. Barclays PLC now owns 5,302 shares of the company's stock worth $89,000 after acquiring an additional 4,952 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Centessa Pharmaceuticals in the fourth quarter valued at about $162,000. 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.

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