Bank of America Corp DE Has $732,000 Stock Position in Centessa Pharmaceuticals plc (NASDAQ:CNTA)

Bank of America Corp DE trimmed its stake in Centessa Pharmaceuticals plc (NASDAQ:CNTA - Free Report) by 86.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,708 shares of the company's stock after selling 269,630 shares during the period. Bank of America Corp DE's holdings in Centessa Pharmaceuticals were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNTA. Price T Rowe Associates Inc. MD raised its stake in Centessa Pharmaceuticals by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company's stock valued at $89,854,000 after purchasing an additional 685,371 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Centessa Pharmaceuticals by 22.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,119,027 shares of the company's stock valued at $85,744,000 after buying an additional 924,027 shares during the last quarter. Franklin Resources Inc. lifted its position in Centessa Pharmaceuticals by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 2,308,546 shares of the company's stock worth $38,668,000 after purchasing an additional 6,000 shares during the period. Foresite Capital Management VI LLC acquired a new stake in Centessa Pharmaceuticals during the fourth quarter worth $20,994,000. Finally, Affinity Asset Advisors LLC increased its holdings in Centessa Pharmaceuticals by 13.5% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,095,924 shares of the company's stock valued at $18,357,000 after buying an additional 130,312 shares during the period. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Centessa Pharmaceuticals

In related news, CEO Saurabh Saha sold 55,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $16.69, for a total value of $917,950.00. Following the transaction, the chief executive officer now owns 276,017 shares in the company, valued at $4,606,723.73. This trade represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David M. Chao sold 7,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $17.17, for a total value of $120,190.00. Following the sale, the insider now directly owns 225,007 shares of the company's stock, valued at $3,863,370.19. This represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,398 shares of company stock worth $2,551,442. Insiders own 7.09% of the company's stock.

Wall Street Analysts Forecast Growth

CNTA has been the subject of several recent research reports. Piper Sandler initiated coverage on shares of Centessa Pharmaceuticals in a research report on Monday, March 31st. They issued an "overweight" rating and a $38.00 price target for the company. Oppenheimer started coverage on Centessa Pharmaceuticals in a report on Thursday, May 8th. They issued an "outperform" rating and a $6.00 target price for the company. 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. Needham & Company LLC assumed coverage on Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a "buy" rating and a $35.00 price objective for the company. Finally, Chardan Capital assumed coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, May 8th. They issued a "buy" rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.89.

Centessa Pharmaceuticals Price Performance

NASDAQ:CNTA traded down $0.45 during mid-day trading on Thursday, reaching $12.04. 517,597 shares of the company were exchanged, compared to its average volume of 696,750. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.61 billion, a PE ratio of -7.87 and a beta of 1.48. Centessa Pharmaceuticals plc has a 12 month low of $8.46 and a 12 month high of $19.09. The company has a fifty day moving average of $12.53 and a 200 day moving average of $15.10.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.15. On average, research analysts anticipate that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

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.