Centessa Pharmaceuticals (NASDAQ:CNTA) Raised to "Hold" at Wall Street Zen

Key Points

• Centessa Pharmaceuticals has been upgraded from a "sell" to a "hold" rating by Wall Street Zen analysts, reflecting a more positive outlook for the stock.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $32.38, according to MarketBeat.com.
• Insider trading activity shows a total of 205,286 shares were sold by insiders in the last quarter, indicating potential concerns over the company's stock performance.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the stock. Guggenheim reissued a "buy" rating and issued a $28.00 target price on shares of Centessa Pharmaceuticals in a research report on Monday, October 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Centessa Pharmaceuticals in a research report on Wednesday. Wells Fargo & Company began coverage on shares of Centessa Pharmaceuticals in a research report on Wednesday, September 3rd. They issued an "overweight" rating and a $31.00 target price for the company. Truist Financial began coverage on shares of Centessa Pharmaceuticals in a research report on Monday, July 21st. They issued a "buy" rating and a $30.00 target price for the company. Finally, Oppenheimer began coverage on shares of Centessa Pharmaceuticals in a research report on Friday, August 29th. They issued an "outperform" rating and a $40.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.38.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA stock opened at $22.31 on Friday. Centessa Pharmaceuticals has a 12 month low of $9.60 and a 12 month high of $24.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.11 and a quick ratio of 10.12. The firm has a market capitalization of $2.99 billion, a P/E ratio of -12.46 and a beta of 1.57. The company's fifty day moving average price is $19.77 and its two-hundred day moving average price is $15.55.

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

Insider Buying and Selling at Centessa Pharmaceuticals

In related news, insider Mario Alberto Accardi sold 8,172 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $21.40, for a total transaction of $174,880.80. Following the completion of the sale, the insider owned 197,394 shares of the company's stock, valued at $4,224,231.60. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory M. Weinhoff sold 10,000 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $15.56, for a total transaction of $155,600.00. Following the sale, the insider directly owned 122,279 shares of the company's stock, valued at approximately $1,902,661.24. This represents a 7.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 205,286 shares of company stock worth $3,993,345 in the last quarter. 7.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of institutional investors have recently modified their holdings of CNTA. China Universal Asset Management Co. Ltd. grew its position in Centessa Pharmaceuticals by 4.8% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 19,181 shares of the company's stock worth $252,000 after purchasing an additional 870 shares during the last quarter. Exome Asset Management LLC grew its position in Centessa Pharmaceuticals by 17.0% in the 2nd quarter. Exome Asset Management LLC now owns 166,944 shares of the company's stock worth $2,194,000 after purchasing an additional 24,200 shares during the last quarter. Octagon Capital Advisors LP grew its position in Centessa Pharmaceuticals by 24.8% in the 2nd quarter. Octagon Capital Advisors LP now owns 1,030,000 shares of the company's stock worth $13,534,000 after purchasing an additional 205,000 shares during the last quarter. BNP Paribas Financial Markets grew its position in Centessa Pharmaceuticals by 3,028.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 34,972 shares of the company's stock worth $460,000 after purchasing an additional 33,854 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Centessa Pharmaceuticals in the 2nd quarter worth about $16,052,000. 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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