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

Key Points

• Centessa Pharmaceuticals (NASDAQ:CNTA) has received a "buy" rating from Guggenheim, with a price target set at $28.00, indicating a potential upside of 20.53% from the current stock price.
• The average target price among analysts for Centessa Pharmaceuticals is $32.38, with a current average rating of "Moderate Buy" based on multiple ratings from various financial institutions.
• Insider trading activity showed General Counsel Iqbal J. Hussain and another insider selling shares recently, contributing to a total of 205,286 shares sold in the past three months.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Guggenheim in a note issued to investors on Monday,Benzinga reports. They presently have a $28.00 price target on the stock. Guggenheim's price objective points to a potential upside of 20.53% from the stock's previous close.

CNTA has been the subject of several other research reports. Truist Financial assumed coverage on shares of Centessa Pharmaceuticals in a report on Monday, July 21st. They issued a "buy" rating and a $30.00 price target for the company. Lifesci Capital upgraded Centessa Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wall Street Zen downgraded Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Wells Fargo & Company initiated coverage on Centessa Pharmaceuticals in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $31.00 price objective on the stock. Finally, Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a report on Friday, August 29th. They set 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $32.38.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA stock opened at $23.23 on Monday. The stock has a market cap of $3.11 billion, a PE ratio of -12.98 and a beta of 1.57. Centessa Pharmaceuticals has a 52-week low of $9.60 and a 52-week high of $24.57. The business has a 50-day simple moving average of $19.12 and a 200-day simple moving average of $15.31. The company has a quick ratio of 10.12, a current ratio of 10.11 and a debt-to-equity ratio of 0.32.

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

Insider Buying and Selling at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, General Counsel Iqbal J. Hussain sold 6,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $21.85, for a total value of $131,100.00. Following the completion of the transaction, the general counsel owned 105,386 shares in the company, valued at $2,302,684.10. The trade was a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mario Alberto Accardi sold 8,172 shares of Centessa Pharmaceuticals stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $21.40, for a total value of $174,880.80. Following the completion of the transaction, the insider owned 197,394 shares of the company's stock, valued at approximately $4,224,231.60. This trade represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 205,286 shares of company stock valued at $3,993,345 over the last three months. 7.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNTA. Adage Capital Partners GP L.L.C. raised its holdings in shares of Centessa Pharmaceuticals by 20.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,403,000 shares of the company's stock valued at $110,415,000 after purchasing an additional 1,449,000 shares in the last quarter. Commodore Capital LP lifted its holdings in Centessa Pharmaceuticals by 39.3% during the 2nd quarter. Commodore Capital LP now owns 3,298,289 shares of the company's stock worth $43,340,000 after buying an additional 930,711 shares during the last quarter. Affinity Asset Advisors LLC boosted its position in shares of Centessa Pharmaceuticals by 41.1% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,546,662 shares of the company's stock worth $22,241,000 after acquiring an additional 450,738 shares in the last quarter. Stempoint Capital LP boosted its position in shares of Centessa Pharmaceuticals by 113.3% during the 2nd quarter. Stempoint Capital LP now owns 1,265,672 shares of the company's stock worth $16,631,000 after acquiring an additional 672,337 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $16,052,000. Institutional investors and hedge funds 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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