Adage Capital Partners GP L.L.C. Purchases 1,834,973 Shares of Centessa Pharmaceuticals PLC Sponsored ADR $CNTA

Key Points

• Adage Capital Partners GP L.L.C. increased its ownership in Centessa Pharmaceuticals by 35.8%, acquiring a total of 6,954,000 shares valued at approximately $100 million.
• Insider trading activity included a substantial sale of 55,000 shares by CEO Saurabh Saha, representing a 19.93% decrease in his stake in the company.
• Analysts maintain a positive outlook on Centessa Pharmaceuticals, with an average price target of $31.50 and a majority rating of "buy" from eleven investment analysts.

Adage Capital Partners GP L.L.C. raised its position in Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 35.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,954,000 shares of the company's stock after acquiring an additional 1,834,973 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 5.21% of Centessa Pharmaceuticals worth $99,999,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in shares of Centessa Pharmaceuticals by 279.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company's stock worth $82,218,000 after buying an additional 3,614,623 shares during the period. Farallon Capital Management LLC lifted its position in shares of Centessa Pharmaceuticals by 24.3% during the 4th quarter. Farallon Capital Management LLC now owns 3,498,709 shares of the company's stock valued at $58,603,000 after buying an additional 684,391 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Centessa Pharmaceuticals by 26.2% during the 4th quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company's stock valued at $57,396,000 after buying an additional 710,936 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in shares of Centessa Pharmaceuticals by 41.1% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,546,662 shares of the company's stock valued at $22,241,000 after buying an additional 450,738 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Centessa Pharmaceuticals by 1.2% during the 1st quarter. American Century Companies Inc. now owns 1,092,754 shares of the company's stock valued at $15,714,000 after buying an additional 13,046 shares in the last quarter. Institutional investors own 82.01% of the company's stock.

Insider Buying and Selling

In related 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 $3,030,790. The trade was a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory M. Weinhoff sold 10,000 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $13.86, for a total value of $138,600.00. Following the transaction, the insider owned 122,279 shares of the company's stock, valued at approximately $1,694,786.94. The trade was a 7.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,322 shares of company stock worth $2,472,814 in the last 90 days. Company insiders own 7.09% of the company's stock.

Centessa Pharmaceuticals Price Performance

NASDAQ CNTA traded up $2.38 during trading on Monday, hitting $18.11. 1,610,412 shares of the stock traded hands, compared to its average volume of 974,156. The company has a market capitalization of $2.43 billion, a P/E ratio of -10.05 and a beta of 1.47. The firm has a 50-day simple moving average of $15.99 and a 200-day simple moving average of $14.43. 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 12-month low of $9.60 and a 12-month high of $19.09.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.03). As a group, analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Truist Financial assumed coverage on Centessa Pharmaceuticals in a research report on Monday, July 21st. They set a "buy" rating and a $30.00 price objective on the stock. Oppenheimer assumed coverage on Centessa Pharmaceuticals in a research report on Friday, August 29th. They set an "outperform" rating and a $40.00 price objective on the stock. Needham & Company LLC assumed coverage on Centessa Pharmaceuticals in a research report on Wednesday, May 28th. They set a "buy" rating and a $35.00 price objective on the stock. Lifesci Capital raised Centessa Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, Chardan Capital reissued a "buy" rating and set a $30.00 target price on shares of Centessa Pharmaceuticals in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $31.45.

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.