Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Centessa Pharmaceuticals by 8.4%, selling 53,592 shares, and now holds approximately 0.44% of the company valued at $8.46 million.
• Significant growth in holdings was observed among other investors, with Price T Rowe Associates increasing their position by 14.6% and Janus Henderson Group increasing theirs by 279.2% in the last quarter.
• Brokerages have a consensus rating of Moderate Buy for Centessa Pharmaceuticals, with an average price target set at $28.10.

TD Asset Management Inc lessened its stake in Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 588,122 shares of the company's stock after selling 53,592 shares during the period. TD Asset Management Inc owned about 0.44% of Centessa Pharmaceuticals worth $8,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Centessa Pharmaceuticals by 40.1% in the fourth quarter. JPMorgan Chase & Co. now owns 190,385 shares of the company's stock valued at $3,189,000 after purchasing an additional 54,482 shares during the period. Wellington Management Group LLP increased its holdings in Centessa Pharmaceuticals by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 115,107 shares of the company's stock worth $1,928,000 after acquiring an additional 14,494 shares in the last quarter. Franklin Resources Inc. increased its holdings in Centessa Pharmaceuticals by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 2,308,546 shares of the company's stock worth $38,668,000 after acquiring an additional 6,000 shares in the last quarter. Geode Capital Management LLC raised its position in Centessa Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 57,257 shares of the company's stock worth $959,000 after acquiring an additional 660 shares during the period. Finally, Trexquant Investment LP lifted its holdings in Centessa Pharmaceuticals by 52.8% during the fourth quarter. Trexquant Investment LP now owns 261,184 shares of the company's stock valued at $4,375,000 after purchasing an additional 90,233 shares in the last quarter. Institutional investors and hedge funds own 82.01% of the company's stock.

Insider Activity

In related news, Director Arjun Goyal acquired 417,646 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average price of $12.73 per share, with a total value of $5,316,633.58. Following the transaction, the director owned 462,585 shares of the company's stock, valued at approximately $5,888,707.05. This trade represents a 929.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $15.92, for a total value of $875,600.00. Following the completion of the sale, the chief executive officer directly owned 221,017 shares in the company, valued at approximately $3,518,590.64. The trade was a 19.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,322 shares of company stock worth $3,196,684. 7.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CNTA has been the subject of several research analyst reports. Needham & Company LLC assumed coverage on shares of Centessa Pharmaceuticals in a research report on Wednesday, May 28th. They set a "buy" rating and a $35.00 price target for the company. Oppenheimer began coverage on Centessa Pharmaceuticals in a research note on Thursday, May 8th. They issued an "outperform" rating and a $6.00 price target on the stock. Chardan Capital reiterated a "buy" rating and set a $30.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday. Truist Financial started coverage on shares of Centessa Pharmaceuticals in a research note on Monday, July 21st. They set a "buy" rating and a $30.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Centessa Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Centessa Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $28.10.

Centessa Pharmaceuticals Trading Down 2.1%

Centessa Pharmaceuticals stock traded down $0.36 during midday trading on Friday, hitting $16.81. 851,202 shares of the stock were exchanged, compared to its average volume of 1,040,888. The company has a current ratio of 14.37, a quick ratio of 14.37 and a debt-to-equity ratio of 0.28. The stock's 50-day simple moving average is $13.90 and its 200 day simple moving average is $14.43. Centessa Pharmaceuticals PLC Sponsored ADR has a fifty-two week low of $9.10 and a fifty-two week high of $19.09. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -9.29 and a beta of 1.47.

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

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.