Centessa Pharmaceuticals (NASDAQ:CNTA) Sets New 12-Month High - Here's What Happened

Key Points

• Centessa Pharmaceuticals (NASDAQ:CNTA) reached a new 52-week high at $23.51, with a trading volume of 125,313 shares.
• Analysts have positive outlooks, with target prices ranging from $30.00 to $35.00; the average target price is currently $32.38.
• Recent insider activities included the sale of 25,000 shares by the CTO, representing a 17.06% decrease in ownership.

Shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $23.51 and last traded at $23.18, with a volume of 125313 shares traded. The stock had previously closed at $22.97.

Analysts Set New Price Targets

Several brokerages recently commented on CNTA. Wall Street Zen cut Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Lifesci Capital upgraded Centessa Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, September 3rd. Chardan Capital restated a "buy" rating and set a $30.00 target price on shares of Centessa Pharmaceuticals in a report on Tuesday, August 12th. Needham & Company LLC started coverage on Centessa Pharmaceuticals in a research report on Wednesday, May 28th. They issued a "buy" rating and a $35.00 price target on the stock. Finally, Truist Financial started coverage on Centessa Pharmaceuticals in a research report on Monday, July 21st. They issued a "buy" rating and a $30.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $32.38.

Centessa Pharmaceuticals Stock Down 0.5%

The firm has a 50 day simple moving average of $17.71 and a two-hundred day simple moving average of $14.88. The company has a market capitalization of $3.12 billion, a PE ratio of -13.00 and a beta of 1.47. The company has a current ratio of 10.11, a quick ratio of 10.12 and a debt-to-equity ratio of 0.32.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last announced its earnings results 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). Research analysts expect that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Iqbal J. Hussain sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $21.85, for a total value of $131,100.00. Following the completion of the sale, the general counsel directly owned 105,386 shares of the company's stock, valued at $2,302,684.10. This trade represents a 5.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $15.92, for a total value of $875,600.00. Following the completion of the sale, the chief executive officer directly owned 221,017 shares of the company's stock, valued at $3,518,590.64. This represents a 19.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,286 shares of company stock worth $3,291,945. Corporate insiders own 7.09% of the company's stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of CNTA. GF Fund Management CO. LTD. acquired a new position in Centessa Pharmaceuticals during the fourth quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Centessa Pharmaceuticals by 15,209.5% in 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 during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Centessa Pharmaceuticals in the first quarter worth $47,000. Bank of New York Mellon Corp acquired a new position in shares of Centessa Pharmaceuticals in the first quarter worth $147,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Centessa Pharmaceuticals in the first quarter worth $160,000. 82.01% of the stock is owned by institutional investors and hedge funds.

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.