Centessa Pharmaceuticals (NASDAQ:CNTA) Receives "Buy" Rating from Chardan Capital

Key Points

• Centessa Pharmaceuticals received a "buy" rating from Chardan Capital with a price target of $30, indicating an upside potential of 81.16% from its current price.
• The stock has a consensus rating of "Moderate Buy" from analysts, with eleven buy ratings and a target price of $28.10.
• Insider activity shows Director Arjun Goyal purchased over 417,000 shares of Centessa stock, significantly increasing his ownership, while the stock has experienced a notable uptick in trading volume.

Chardan Capital reaffirmed their buy rating on shares of Centessa Pharmaceuticals (NASDAQ:CNTA - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. Chardan Capital currently has a $30.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Truist Financial initiated coverage on Centessa Pharmaceuticals in a research report on Monday, July 21st. They set a "buy" rating and a $30.00 price target on the stock. Oppenheimer initiated coverage on Centessa Pharmaceuticals in a research report on Thursday, May 8th. They set an "outperform" rating and a $6.00 price target on the stock. Wall Street Zen raised Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Needham & Company LLC initiated coverage on Centessa Pharmaceuticals in a research report on Wednesday, May 28th. They set a "buy" rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $28.10.

Centessa Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ CNTA traded down $0.36 during midday trading on Wednesday, hitting $16.81. 851,202 shares of the company's stock were exchanged, compared to its average volume of 1,040,888. The company has a debt-to-equity ratio of 0.28, a current ratio of 14.37 and a quick ratio of 14.37. Centessa Pharmaceuticals has a twelve month low of $9.10 and a twelve month high of $19.09. The company has a market cap of $2.25 billion, a PE ratio of -9.29 and a beta of 1.47. The firm's fifty day simple moving average is $13.90 and its 200-day simple moving average is $14.42.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its quarterly 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. Research analysts predict that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Iqbal J. Hussain sold 12,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $14.02, for a total value of $168,240.00. Following the sale, the general counsel directly owned 105,386 shares in the company, valued at $1,477,511.72. The trade was a 10.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $13.86, for a total value of $138,600.00. Following the completion of the sale, the insider owned 122,279 shares in the company, valued at approximately $1,694,786.94. This trade represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,322 shares of company stock valued at $3,196,684. 7.09% of the stock is owned by company insiders.

Institutional Trading of Centessa Pharmaceuticals

Institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new stake in shares of Centessa Pharmaceuticals in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd boosted its stake 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 valued at $46,000 after buying an additional 3,194 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Centessa Pharmaceuticals in the first quarter valued at approximately $47,000. Barclays PLC boosted its stake in shares of 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 buying an additional 4,952 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Centessa Pharmaceuticals in the first quarter valued at approximately $147,000. 82.01% of the stock is currently 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.