Truist Financial Begins Coverage on Centessa Pharmaceuticals (NASDAQ:CNTA)

Stock analysts at Truist Financial started coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set a "buy" rating and a $30.00 price target on the stock. Truist Financial's price objective indicates a potential upside of 91.20% from the stock's previous close.

A number of other analysts have also recently issued reports on CNTA. Chardan Capital started coverage on Centessa Pharmaceuticals in a research note on Thursday, May 8th. They set a "buy" rating and a $30.00 target price for the company. Piper Sandler started coverage on shares of Centessa Pharmaceuticals in a research note on Monday, March 31st. They set an "overweight" rating and a $38.00 price target for the company. Guggenheim reaffirmed a "buy" rating and set a $28.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, March 26th. Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a research note on Thursday, May 8th. They set an "outperform" rating and a $6.00 price target for the company. Finally, Needham & Company LLC started coverage on shares of Centessa Pharmaceuticals in a research note on Wednesday, May 28th. They set a "buy" rating and a $35.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Centessa Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $28.10.

Centessa Pharmaceuticals Stock Performance

Shares of NASDAQ:CNTA opened at $15.69 on Monday. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.67 and a beta of 1.45. The firm's 50 day simple moving average is $13.24 and its 200 day simple moving average is $14.42. The company has a debt-to-equity ratio of 0.28, a current ratio of 14.37 and a quick ratio of 14.37. Centessa Pharmaceuticals has a fifty-two week low of $9.00 and a fifty-two week high of $19.09.

Centessa Pharmaceuticals (NASDAQ:CNTA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.15. As a group, sell-side analysts forecast that Centessa Pharmaceuticals will post -1.6 earnings per share for the current year.

Insider Activity

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $12.71, for a total transaction of $699,050.00. Following the completion of the transaction, the chief executive officer directly owned 221,017 shares of the company's stock, valued at $2,809,126.07. The trade was a 19.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Iqbal J. Hussain sold 12,000 shares of Centessa Pharmaceuticals stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $14.02, for a total transaction of $168,240.00. Following the transaction, the general counsel directly owned 105,386 shares of the company's stock, valued at approximately $1,477,511.72. This trade represents a 10.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 174,742 shares of company stock valued at $2,282,569. 7.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its stake in Centessa Pharmaceuticals by 279.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,909,487 shares of the company's stock worth $82,218,000 after acquiring an additional 3,614,623 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Centessa Pharmaceuticals by 35.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company's stock worth $99,999,000 after acquiring an additional 1,834,973 shares in the last quarter. Foresite Capital Management VI LLC acquired a new position in Centessa Pharmaceuticals during the fourth quarter worth about $20,994,000. Point72 Asset Management L.P. raised its stake in Centessa Pharmaceuticals by 26.2% during the fourth quarter. Point72 Asset Management L.P. now owns 3,426,599 shares of the company's stock worth $57,396,000 after acquiring an additional 710,936 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Centessa Pharmaceuticals by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,364,392 shares of the company's stock worth $89,854,000 after acquiring an additional 685,371 shares in the last quarter. Institutional investors own 82.01% of the company's stock.

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.

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