B. Riley Initiates Coverage on Centessa Pharmaceuticals (NASDAQ:CNTA)

B. Riley started coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a report issued on Thursday, MarketBeat reports. The firm issued a buy rating and a $33.00 price target on the stock.

A number of other research analysts have also issued reports on CNTA. Guggenheim raised their target price on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, September 11th. Oppenheimer reiterated an outperform rating and issued a $14.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Morgan Stanley increased their target price on Centessa Pharmaceuticals from $8.00 to $11.00 and gave the company an equal weight rating in a research note on Friday, June 21st. BMO Capital Markets lifted their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an outperform rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group increased their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a buy rating in a research report on Wednesday, September 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals presently has an average rating of Buy and an average target price of $25.17.

Centessa Pharmaceuticals Price Performance

Shares of NASDAQ:CNTA opened at $16.58 on Thursday. The stock has a market capitalization of $1.67 billion, a P/E ratio of -11.68 and a beta of 1.44. The business has a 50-day moving average of $12.41 and a two-hundred day moving average of $10.67. Centessa Pharmaceuticals has a fifty-two week low of $5.15 and a fifty-two week high of $17.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 13.29 and a quick ratio of 13.29.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). On average, equities research analysts predict that Centessa Pharmaceuticals will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Centessa Pharmaceuticals

In other news, CEO Saurabh Saha sold 55,000 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $16.53, for a total transaction of $909,150.00. Following the sale, the chief executive officer now owns 721,924 shares of the company’s stock, valued at approximately $11,933,403.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gregory M. Weinhoff sold 12,198 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total value of $148,449.66. Following the sale, the insider now owns 241,171 shares of the company’s stock, valued at $2,935,051.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Saurabh Saha sold 55,000 shares of the stock in a transaction dated Friday, September 20th. The stock was 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 of the company’s stock, valued at approximately $11,933,403.72. The disclosure for this sale can be found here. Insiders sold a total of 271,873 shares of company stock valued at $4,381,150 in the last quarter. Corporate insiders own 11.59% of the company’s stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several large investors have recently modified their holdings of CNTA. Nantahala Capital Management LLC bought a new position in shares of Centessa Pharmaceuticals during the 2nd quarter worth approximately $4,064,000. Perceptive Advisors LLC lifted its holdings in shares of Centessa Pharmaceuticals by 27.6% during the second quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock valued at $35,518,000 after acquiring an additional 850,000 shares during the period. Quarry LP lifted its holdings in shares of Centessa Pharmaceuticals by 47.8% during the second quarter. Quarry LP now owns 9,608 shares of the company’s stock valued at $87,000 after acquiring an additional 3,108 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of Centessa Pharmaceuticals by 89.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after purchasing an additional 987,997 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Centessa Pharmaceuticals by 30.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 140,894 shares of the company’s stock worth $1,272,000 after purchasing an additional 32,846 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors.

About Centessa Pharmaceuticals

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.