Affinity Asset Advisors LLC Buys 450,738 Shares of Centessa Pharmaceuticals PLC Sponsored ADR $CNTA

Key Points

• Affinity Asset Advisors LLC increased its ownership in Centessa Pharmaceuticals by 41.1% during the first quarter, making it the firm's 10th largest position with approximately $22.24 million in holdings.
• Centessa Pharmaceuticals reported a loss of ($0.38) earnings per share for the last quarter, which was below analysts' expectations.
• Despite recent sell-offs by insiders, 82.01% of Centessa Pharmaceuticals' stock is held by institutional investors, reflecting strong institutional interest in the company.

Affinity Asset Advisors LLC lifted its stake in shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 41.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,546,662 shares of the company's stock after buying an additional 450,738 shares during the quarter. Centessa Pharmaceuticals accounts for approximately 2.1% of Affinity Asset Advisors LLC's holdings, making the stock its 10th largest holding. Affinity Asset Advisors LLC owned about 1.16% of Centessa Pharmaceuticals worth $22,241,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CNTA. Geode Capital Management LLC raised its holdings in shares of Centessa Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 57,257 shares of the company's stock valued at $959,000 after buying an additional 660 shares during the period. Barclays PLC increased its holdings in Centessa Pharmaceuticals by 1,414.9% during the 4th quarter. Barclays PLC now owns 5,302 shares of the company's stock worth $89,000 after purchasing an additional 4,952 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 worth $89,854,000 after purchasing an additional 685,371 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Centessa Pharmaceuticals during the 4th quarter worth approximately $497,000. Finally, Lord Abbett & CO. LLC increased its holdings in Centessa Pharmaceuticals by 63.6% during the 4th quarter. Lord Abbett & CO. LLC now owns 440,495 shares of the company's stock worth $7,378,000 after purchasing an additional 171,290 shares during the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Centessa Pharmaceuticals Stock Performance

CNTA stock traded up $0.23 during trading on Friday, reaching $16.79. 632,847 shares of the company's stock were exchanged, compared to its average volume of 1,036,740. The company has a quick ratio of 10.12, a current ratio of 10.11 and a debt-to-equity ratio of 0.32. Centessa Pharmaceuticals PLC Sponsored ADR has a 1-year low of $9.60 and a 1-year high of $19.09. The company's fifty day moving average price is $15.70 and its 200-day moving average price is $14.49. The firm has a market cap of $2.25 billion, a PE ratio of -9.38 and a beta of 1.48.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.03). On average, research analysts expect that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CNTA shares. Wall Street Zen downgraded Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Chardan Capital reiterated a "buy" rating and issued a $30.00 target price on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. Needham & Company LLC assumed coverage on Centessa Pharmaceuticals in a research report on Wednesday, May 28th. They issued a "buy" rating and a $35.00 target price for the company. Truist Financial assumed coverage on Centessa Pharmaceuticals in a research report on Monday, July 21st. They issued a "buy" rating and a $30.00 target price for the company. Finally, Oppenheimer assumed coverage on Centessa Pharmaceuticals in a research report on Friday. They issued an "outperform" rating and a $40.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $31.50.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, insider Mario Alberto Accardi sold 15,000 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $14.00, for a total transaction of $210,000.00. Following the completion of the transaction, the insider owned 216,485 shares in the company, valued at approximately $3,030,790. The trade was a 6.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Saurabh Saha sold 55,000 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $12.63, for a total value of $694,650.00. Following the completion of the sale, the chief executive officer owned 221,017 shares of the company's stock, valued at approximately $2,791,444.71. This trade represents a 19.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,322 shares of company stock worth $2,472,814. Insiders own 7.09% 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.