Needham & Company LLC Begins Coverage on Centessa Pharmaceuticals (NASDAQ:CNTA)

Needham & Company LLC began coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA - Free Report) in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $35.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on CNTA. Guggenheim restated a "buy" rating and issued a $28.00 price target on shares of Centessa Pharmaceuticals in a report on Wednesday, March 26th. Wall Street Zen upgraded Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Oppenheimer began coverage on Centessa Pharmaceuticals in a report on Thursday, May 8th. They issued an "outperform" rating and a $6.00 price target on the stock. Piper Sandler began coverage on Centessa Pharmaceuticals in a report on Monday, March 31st. They issued an "overweight" rating and a $38.00 price target on the stock. Finally, Chardan Capital began coverage on Centessa Pharmaceuticals in a report on Thursday, May 8th. They issued a "buy" rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Centessa Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $27.89.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA stock traded up $0.07 during trading hours on Wednesday, reaching $13.14. 751,590 shares of the company's stock were exchanged, compared to its average volume of 658,782. The company has a market cap of $1.75 billion, a P/E ratio of -8.59 and a beta of 1.53. The company's 50 day moving average is $12.73 and its two-hundred day moving average is $15.36. Centessa Pharmaceuticals has a 1 year low of $7.90 and a 1 year high of $19.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.15. Equities research analysts anticipate that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arjun Goyal bought 417,646 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average cost of $12.73 per share, with a total value of $5,316,633.58. Following the transaction, the director now owns 462,585 shares of the company's stock, valued at $5,888,707.05. This represents a 929.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $16.45, for a total value of $98,700.00. Following the completion of the transaction, the general counsel now directly owns 105,386 shares in the company, valued at $1,733,599.70. This trade represents a 5.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,398 shares of company stock valued at $2,551,442 in the last quarter. 7.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNTA. GF Fund Management CO. LTD. purchased a new position in Centessa Pharmaceuticals in the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd raised its position in 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 valued at $46,000 after purchasing an additional 3,194 shares during the period. Osterweis Capital Management Inc. purchased a new position in Centessa Pharmaceuticals in the first quarter valued at about $47,000. Barclays PLC raised its position in Centessa Pharmaceuticals by 1,414.9% in the fourth quarter. Barclays PLC now owns 5,302 shares of the company's stock valued at $89,000 after purchasing an additional 4,952 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Centessa Pharmaceuticals in the first quarter valued at about $147,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.