Centessa Pharmaceuticals (NASDAQ:CNTA) Coverage Initiated by Analysts at Needham & Company LLC

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

Several other research analysts have also issued reports on CNTA. Morgan Stanley reissued an "overweight" rating and issued a $27.00 target price on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. Wall Street Zen upgraded Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Guggenheim reissued a "buy" rating and set a $28.00 price objective on shares of Centessa Pharmaceuticals in a research report on Wednesday, March 26th. Chardan Capital initiated coverage on shares of Centessa Pharmaceuticals in a report on Thursday, May 8th. They set a "buy" rating and a $30.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Centessa Pharmaceuticals in a research note on Monday, March 31st. They issued an "overweight" rating and a $38.00 price target for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.89.

Centessa Pharmaceuticals Trading Up 0.5%

NASDAQ:CNTA traded up $0.07 during trading hours on Wednesday, hitting $13.14. The company had a trading volume of 751,590 shares, compared to its average volume of 660,764. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The stock has a 50-day moving average price of $12.73 and a 200 day moving average price of $15.34. The company has a market capitalization of $1.75 billion, a PE ratio of -8.59 and a beta of 1.53. Centessa Pharmaceuticals has a 52 week low of $7.90 and a 52 week high of $19.09.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.15. On average, equities research analysts predict that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 10,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $12.82, for a total value of $128,200.00. Following the transaction, the insider now owns 122,279 shares of the company's stock, valued at approximately $1,567,616.78. This represents a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the firm's stock in a transaction dated 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. The trade was 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 worth $2,551,442 in the last quarter. Corporate insiders own 7.09% of the company's stock.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its stake in shares of Centessa Pharmaceuticals by 39.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,909 shares of the company's stock worth $317,000 after buying an additional 5,316 shares during the period. JPMorgan Chase & Co. increased its holdings in Centessa Pharmaceuticals by 40.1% in the 4th quarter. JPMorgan Chase & Co. now owns 190,385 shares of the company's stock worth $3,189,000 after acquiring an additional 54,482 shares in the last quarter. Wellington Management Group LLP raised its stake in Centessa Pharmaceuticals by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 115,107 shares of the company's stock worth $1,928,000 after acquiring an additional 14,494 shares during the period. Franklin Resources Inc. raised its stake in Centessa Pharmaceuticals by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 2,308,546 shares of the company's stock worth $38,668,000 after acquiring an additional 6,000 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Centessa Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 57,257 shares of the company's stock valued at $959,000 after purchasing an additional 660 shares in the last quarter. Institutional investors own 82.01% of the company's stock.

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.