Cormorant Asset Management LP Lowers Holdings in Centessa Pharmaceuticals PLC Sponsored ADR $CNTA

Key Points

• Cormorant Asset Management LP sold 300,000 shares of Centessa Pharmaceuticals, reducing its holdings by 11.7%, now owning approximately 2.4% of the company.
• Centessa Pharmaceuticals has seen significant activity from institutional investors, with 82.01% of the company's stock now owned by these investors.
• Multiple analysts have rated Centessa Pharmaceuticals with a consensus rating of "Buy" and target prices ranging from $31.00 to $40.00.

Cormorant Asset Management LP decreased its position in Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,261,600 shares of the company's stock after selling 300,000 shares during the period. Centessa Pharmaceuticals accounts for about 2.4% of Cormorant Asset Management LP's investment portfolio, making the stock its 12th biggest position. Cormorant Asset Management LP owned approximately 1.69% of Centessa Pharmaceuticals worth $32,522,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Centessa Pharmaceuticals in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Centessa Pharmaceuticals by 15,209.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company's stock valued at $46,000 after purchasing an additional 3,194 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Centessa Pharmaceuticals in the first quarter valued at approximately $47,000. Barclays PLC boosted its holdings in shares of 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 purchasing an additional 4,952 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Centessa Pharmaceuticals in the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 82.01% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Iqbal J. Hussain sold 6,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $17.23, for a total transaction of $103,380.00. Following the completion of the sale, the general counsel owned 105,386 shares in the company, valued at approximately $1,815,800.78. This represents a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory M. Weinhoff sold 10,000 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $15.56, for a total value of $155,600.00. Following the completion of the transaction, the insider directly owned 122,279 shares in the company, valued at approximately $1,902,661.24. The trade was a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,322 shares of company stock worth $2,472,814. 7.09% of the stock is currently owned by company insiders.

Centessa Pharmaceuticals Stock Up 9.9%

Shares of CNTA traded up $1.79 during midday trading on Tuesday, hitting $19.82. 1,397,991 shares of the company's stock traded hands, compared to its average volume of 992,160. Centessa Pharmaceuticals PLC Sponsored ADR has a 1 year low of $9.60 and a 1 year high of $19.99. The firm's fifty day moving average is $16.09 and its 200-day moving average is $14.44. The company has a current ratio of 10.11, a quick ratio of 10.12 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -11.05 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CNTA. Wall Street Zen lowered Centessa Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals in a research note on Friday, August 29th. They issued an "outperform" rating and a $40.00 price objective for the company. Needham & Company LLC assumed coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They issued a "buy" rating and a $35.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $31.00 price objective for the company. Finally, Lifesci Capital raised shares of Centessa Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $31.45.

Centessa Pharmaceuticals Company 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.