Centessa Pharmaceuticals (NASDAQ:CNTA) Raised to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Centessa Pharmaceuticals (NASDAQ:CNTA) from an equal weight rating to an overweight rating in a research report released on Thursday morning, Marketbeat reports. They currently have $26.00 price objective on the stock, up from their prior price objective of $11.00.

A number of other research firms also recently commented on CNTA. BMO Capital Markets increased their price objective on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an outperform rating in a report on Monday, September 16th. Oppenheimer restated an outperform rating and set a $14.00 price objective on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Guggenheim increased their target price on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Jefferies Financial Group boosted their price target on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Finally, B. Riley started coverage on Centessa Pharmaceuticals in a report on Thursday. They set a buy rating and a $33.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $25.17.

Centessa Pharmaceuticals Stock Up 4.6 %

Shares of NASDAQ:CNTA opened at $16.58 on Thursday. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27. Centessa Pharmaceuticals has a fifty-two week low of $5.15 and a fifty-two week high of $17.59. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -11.68 and a beta of 1.44. The firm’s 50 day moving average price is $12.41 and its 200 day moving average price is $10.67.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). As a group, equities research analysts predict that Centessa Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, insider Gregory M. Weinhoff sold 12,198 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total transaction of $148,449.66. Following the completion of the sale, the insider now owns 241,171 shares in the company, valued at $2,935,051.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Gregory M. Weinhoff sold 12,198 shares of Centessa Pharmaceuticals stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total value of $148,449.66. Following the transaction, the insider now directly owns 241,171 shares in the company, valued at approximately $2,935,051.07. The transaction was disclosed in a legal 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 on Friday, September 20th. The shares were sold at an average price of $16.53, for a total transaction of $909,150.00. Following the completion of the transaction, the chief executive officer now directly owns 721,924 shares in the company, valued at $11,933,403.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,873 shares of company stock worth $4,381,150. 11.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Centessa Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its stake in shares of Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after buying an additional 3,108 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Centessa Pharmaceuticals by 69.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,817 shares of the company’s stock valued at $122,000 after acquiring an additional 4,423 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Centessa Pharmaceuticals during the 1st quarter worth $109,000. Sandia Investment Management LP acquired a new position in shares of Centessa Pharmaceuticals during the 2nd quarter worth $90,000. Finally, Fred Alger Management LLC acquired a new position in shares of Centessa Pharmaceuticals during the 2nd quarter worth $99,000. Hedge funds and other 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 to patients. Its pipeline products include SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B; and ORX750, an orally administered OX2R agonist for the treatment of NT1 with potential expansion into other sleep disorders.