Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up - Should You Buy?

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $12.77, but opened at $13.23. Centessa Pharmaceuticals shares last traded at $13.17, with a volume of 29,125 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on CNTA shares. Needham & Company LLC started coverage on shares of Centessa Pharmaceuticals in a research report on Wednesday. They set a "buy" rating and a $35.00 price objective for the company. Piper Sandler started coverage on shares of Centessa Pharmaceuticals in a research report on Monday, March 31st. They set an "overweight" rating and a $38.00 price objective for the company. Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a research report on Thursday, May 8th. They set an "outperform" rating and a $6.00 price objective for the company. Wall Street Zen upgraded Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Guggenheim reiterated a "buy" rating and issued a $28.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Centessa Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $27.89.

Centessa Pharmaceuticals Trading Up 0.7%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. The firm has a 50 day simple moving average of $12.91 and a two-hundred day simple moving average of $15.43. The firm has a market capitalization of $1.72 billion, a P/E ratio of -8.42 and a beta of 1.53.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.15. Equities research analysts forecast that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Insider Transactions at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $12.71, for a total transaction of $699,050.00. Following the sale, the chief executive officer now directly owns 221,017 shares in the company, valued at $2,809,126.07. The trade was a 19.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gregory M. Weinhoff sold 10,000 shares of Centessa Pharmaceuticals stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $12.82, for a total value of $128,200.00. Following the sale, the insider now owns 122,279 shares in the company, valued at $1,567,616.78. The trade was a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,398 shares of company stock worth $2,551,442 in the last ninety days. Company insiders own 7.09% of the company's stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in Centessa Pharmaceuticals in the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd increased its holdings in 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 worth $46,000 after acquiring an additional 3,194 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in Centessa Pharmaceuticals in the 1st quarter worth about $47,000. Barclays PLC increased its holdings in Centessa Pharmaceuticals by 1,414.9% in the 4th quarter. Barclays PLC now owns 5,302 shares of the company's stock worth $89,000 after acquiring an additional 4,952 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Centessa Pharmaceuticals in the 4th quarter worth about $162,000. Hedge funds and other 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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