Chardan Capital Reiterates "Buy" Rating for Centessa Pharmaceuticals (NASDAQ:CNTA)

Key Points

• Centessa Pharmaceuticals has received a "buy" rating from Chardan Capital, with a price objective of $30.00, indicating a potential upside of 75.34% from its current price.
• The company's stock price recently rose 3.0% to $17.11, with a market capitalization of approximately $2.29 billion.
• Insider transactions include a significant stock purchase by Director Arjun Goyal, who acquired 417,646 shares at an average price of $12.73, reflecting a 929.36% increase in ownership.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report)'s stock had its "buy" rating restated by Chardan Capital in a report issued on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock. Chardan Capital's target price suggests a potential upside of 66.20% from the company's previous close.

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

Centessa Pharmaceuticals Trading Up 2.3%

Shares of Centessa Pharmaceuticals stock traded up $0.41 during trading hours on Tuesday, hitting $18.05. The company's stock had a trading volume of 1,282,676 shares, compared to its average volume of 1,149,587. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.11 and a quick ratio of 10.12. Centessa Pharmaceuticals has a 12 month low of $9.60 and a 12 month high of $19.09. The stock has a 50 day moving average of $14.76 and a 200 day moving average of $14.48. The company has a market capitalization of $2.42 billion, a PE ratio of -10.08 and a beta of 1.48.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Analysts predict that Centessa Pharmaceuticals will post -1.6 earnings per share for the current year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $12.63, for a total value of $694,650.00. Following the completion of the sale, the chief executive officer owned 221,017 shares of the company's stock, valued at approximately $2,791,444.71. The trade was a 19.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory M. Weinhoff sold 10,000 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $15.56, for a total value of $155,600.00. Following the completion of the sale, the insider owned 122,279 shares of the company's stock, valued at $1,902,661.24. This trade represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,322 shares of company stock worth $3,300,064 over the last three months. Company insiders own 7.09% of the company's stock.

Institutional Trading of Centessa Pharmaceuticals

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Centessa Pharmaceuticals in the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Centessa Pharmaceuticals by 15,209.5% in the 1st 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 in the last quarter. Osterweis Capital Management Inc. acquired a new position in Centessa Pharmaceuticals in the 1st quarter worth about $47,000. Barclays PLC increased its position 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 acquired a new position in Centessa Pharmaceuticals during the first quarter worth $147,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

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.