Centessa Pharmaceuticals plc (NASDAQ:CNTA) Holdings Lowered by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC cut its holdings in shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA - Free Report) by 21.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 244,538 shares of the company's stock after selling 65,076 shares during the quarter. Centessa Pharmaceuticals accounts for about 3.4% of Ally Bridge Group NY LLC's portfolio, making the stock its 10th largest holding. Ally Bridge Group NY LLC owned about 0.19% of Centessa Pharmaceuticals worth $4,096,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new stake in Centessa Pharmaceuticals during the 4th quarter worth about $6,117,000. Foresite Capital Management VI LLC purchased a new position in shares of Centessa Pharmaceuticals during the 4th quarter valued at approximately $20,994,000. The Manufacturers Life Insurance Company boosted its holdings in Centessa Pharmaceuticals by 19.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 317,329 shares of the company's stock worth $5,315,000 after buying an additional 52,360 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Centessa Pharmaceuticals in the fourth quarter valued at $702,000. Finally, Lord Abbett & CO. LLC raised its position in shares of Centessa Pharmaceuticals by 63.6% in the fourth quarter. Lord Abbett & CO. LLC now owns 440,495 shares of the company's stock worth $7,378,000 after acquiring an additional 171,290 shares during the period. 82.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNTA. Guggenheim reiterated a "buy" rating and set a $28.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, March 26th. Piper Sandler started coverage on shares of Centessa Pharmaceuticals in a research report on Monday, March 31st. They issued an "overweight" rating and a $38.00 target price on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $27.00 price target on shares of Centessa Pharmaceuticals in a research note on Friday, March 7th. Finally, TD Cowen assumed coverage on Centessa Pharmaceuticals in a report on Tuesday, January 7th. They set a "buy" rating for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $27.71.

Centessa Pharmaceuticals Trading Up 1.6 %

NASDAQ:CNTA traded up $0.19 during trading hours on Wednesday, hitting $12.20. The company had a trading volume of 197,787 shares, compared to its average volume of 617,996. The company has a 50-day moving average of $14.07 and a 200 day moving average of $15.74. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.62 billion, a P/E ratio of -7.97 and a beta of 1.53. Centessa Pharmaceuticals plc has a 1 year low of $7.75 and a 1 year high of $19.09.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.04. Sell-side analysts expect that Centessa Pharmaceuticals plc will post -1.6 earnings per share for the current year.

Insider Activity

In other news, General Counsel Iqbal J. Hussain sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $16.18, for a total value of $97,080.00. Following the completion of the transaction, the general counsel now owns 105,386 shares of the company's stock, valued at approximately $1,705,145.48. This trade represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karen M. Anderson sold 30,526 shares of Centessa Pharmaceuticals stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $19.03, for a total value of $580,909.78. Following the completion of the transaction, the insider now owns 54,322 shares of the company's stock, valued at $1,033,747.66. The trade was a 35.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,353 shares of company stock valued at $3,286,478 in the last quarter. Insiders own 11.59% of the company's stock.

Centessa Pharmaceuticals 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.