First Light Asset Management LLC Decreases Stake in Centessa Pharmaceuticals PLC Sponsored ADR $CNTA

Key Points

• First Light Asset Management LLC has reduced its holdings in Centessa Pharmaceuticals by 16.0%, now owning approximately 3.65% of the company, valued at $70,090,000.
• Analysts have mixed ratings on Centessa Pharmaceuticals, with a consensus rating of "Buy" and a price target of $31.50, though recent reports include downgrades to "sell".
• Centessa Pharmaceuticals reported a loss of ($0.38) earnings per share for the last quarter, missing analysts' consensus estimates.

First Light Asset Management LLC decreased its stake in Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 16.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,874,124 shares of the company's stock after selling 931,060 shares during the period. Centessa Pharmaceuticals makes up 7.9% of First Light Asset Management LLC's portfolio, making the stock its 3rd biggest position. First Light Asset Management LLC owned 3.65% of Centessa Pharmaceuticals worth $70,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Centessa Pharmaceuticals Price Performance

Centessa Pharmaceuticals stock traded down $0.06 during mid-day trading on Friday, hitting $15.73. 950,166 shares of the company were exchanged, compared to its average volume of 988,284. The company has a market capitalization of $2.11 billion, a PE ratio of -8.79 and a beta of 1.47. The business has a fifty day moving average of $15.99 and a 200 day moving average of $14.46. Centessa Pharmaceuticals PLC Sponsored ADR has a 1-year low of $9.60 and a 1-year high of $19.09. 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 (NASDAQ:CNTA - Get Free Report) last posted its 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, sell-side analysts expect that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC began coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a "buy" rating and a $35.00 target price on the stock. Chardan Capital reiterated a "buy" rating and issued a $30.00 target price on shares of Centessa Pharmaceuticals in a report on Tuesday, August 12th. Wall Street Zen lowered shares of Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Truist Financial assumed coverage on shares of Centessa Pharmaceuticals in a report on Monday, July 21st. They issued a "buy" rating and a $30.00 price objective for the company. Finally, 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 for the company. One investment analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $31.45.

Insider Activity

In other news, insider Mario Alberto Accardi sold 8,322 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $15.23, for a total transaction of $126,744.06. Following the completion of the sale, the insider owned 208,163 shares of the company's stock, valued at approximately $3,170,322.49. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Saurabh Saha sold 55,000 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $15.92, for a total value of $875,600.00. Following the completion of the transaction, the chief executive officer directly owned 221,017 shares in the company, valued at $3,518,590.64. The trade was a 19.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,322 shares of company stock valued at $2,472,814 over the last three months. 7.09% of the stock is owned by corporate insiders.

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.