Centessa Pharmaceuticals (NASDAQ:CNTA) Sets New 1-Year High - Time to Buy?

Key Points

• Centessa Pharmaceuticals shares reached a new **52-week high** of **$24.13**, showing significant trading volume with nearly one million shares exchanged.
• Equities analysts are optimistic about the stock, with nine analysts giving it a **"Buy"** rating and a consensus target price of **$32.38**, suggesting potential upside.
• Recent insider selling has occurred, with CEO Saurabh Saha and other insiders selling a total of **205,286 shares** over the past 90 days, indicating a decrease in their holdings despite positive market momentum.

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $24.13 and last traded at $23.97, with a volume of 968723 shares changing hands. The stock had previously closed at $23.34.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Lifesci Capital raised shares of Centessa Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, September 3rd. Chardan Capital restated a "buy" rating and set a $30.00 price objective on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. Wells Fargo & Company assumed coverage on Centessa Pharmaceuticals in a report on Wednesday, September 3rd. They set an "overweight" rating and a $31.00 price target for the company. Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals in a report on Friday, August 29th. They issued an "outperform" rating and a $40.00 target price for the company. Finally, Truist Financial initiated coverage on shares of Centessa Pharmaceuticals in a report on Monday, July 21st. They issued a "buy" rating and a $30.00 target price for the company. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat, Centessa Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $32.38.

Centessa Pharmaceuticals Trading Up 2.7%

The stock has a market cap of $3.21 billion, a PE ratio of -13.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.12 and a current ratio of 10.11. The stock has a fifty day moving average price of $18.05 and a 200 day moving average price of $15.01.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Equities analysts expect that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current year.

Insider Activity

In related news, insider Gregory M. Weinhoff sold 10,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $15.56, for a total transaction of $155,600.00. Following the completion of the transaction, the insider owned 122,279 shares in the company, valued at $1,902,661.24. The trade was a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $15.92, for a total value of $875,600.00. Following the transaction, the chief executive officer owned 221,017 shares of the company's stock, valued at approximately $3,518,590.64. The trade was a 19.93% 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 90 days. 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 during the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd lifted its stake in 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 worth $46,000 after acquiring an additional 3,194 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Centessa Pharmaceuticals in the 1st quarter worth approximately $47,000. BNP Paribas Financial Markets purchased a new stake in shares of Centessa Pharmaceuticals in the 4th quarter worth approximately $162,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Centessa Pharmaceuticals in the 1st quarter worth approximately $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.

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