Centessa Pharmaceuticals (NASDAQ:CNTA) Stock Price Up 7.9% - Still a Buy?

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Get Free Report) rose 7.9% during trading on Wednesday . The company traded as high as $14.52 and last traded at $14.63. Approximately 694,566 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 925,769 shares. The stock had previously closed at $13.56.

Analysts Set New Price Targets

CNTA has been the topic of a number of research reports. Chardan Capital initiated coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, May 8th. They issued a "buy" rating and a $30.00 price objective on the stock. Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, May 8th. They set an "outperform" rating and a $6.00 price target on the stock. Needham & Company LLC assumed coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a "buy" rating and a $35.00 price target on the stock. Wall Street Zen raised shares of Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Guggenheim reaffirmed a "buy" rating and set a $28.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.89.

Centessa Pharmaceuticals Price Performance

The company's fifty day moving average is $12.89 and its 200 day moving average is $14.54. The company has a quick ratio of 14.37, a current ratio of 14.37 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.87 billion, a PE ratio of -7.75 and a beta of 1.45.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.15. As a group, sell-side analysts anticipate that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current fiscal year.

Insider Activity at Centessa Pharmaceuticals

In other news, insider Mario Alberto Accardi sold 15,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $14.00, for a total transaction of $210,000.00. Following the sale, the insider owned 216,485 shares in the company, valued at $3,030,790. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $12.63, for a total transaction of $694,650.00. Following the sale, the chief executive officer directly owned 221,017 shares of the company's stock, valued at $2,791,444.71. The trade was a 19.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,398 shares of company stock valued at $2,462,692. 7.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Centessa Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Centessa Pharmaceuticals during the fourth quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd grew its position in shares of Centessa Pharmaceuticals by 15,209.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company's stock worth $46,000 after buying an additional 3,194 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Centessa Pharmaceuticals during the first quarter worth approximately $47,000. Barclays PLC grew its position in shares of Centessa Pharmaceuticals by 1,414.9% during the fourth quarter. Barclays PLC now owns 5,302 shares of the company's stock worth $89,000 after buying an additional 4,952 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Centessa Pharmaceuticals during the first quarter worth approximately $147,000. Institutional investors and hedge funds own 82.01% of the company's stock.

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.

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