SVB Leerink Reaffirms “Outperform” Rating for Centessa Pharmaceuticals (NASDAQ:CNTA)

Centessa Pharmaceuticals (NASDAQ:CNTA – Get Rating)‘s stock had its “outperform” rating reissued by SVB Leerink in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $6.00 price objective on the stock. SVB Leerink’s price objective suggests a potential upside of 50.38% from the stock’s current price.

Other research analysts have also issued reports about the stock. Morgan Stanley decreased their price objective on shares of Centessa Pharmaceuticals from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Tuesday, January 24th. SVB Securities initiated coverage on Centessa Pharmaceuticals in a report on Friday, March 17th. They issued an “outperform” rating and a $6.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.83.

Centessa Pharmaceuticals Stock Up 1.0 %

NASDAQ:CNTA traded up $0.04 during midday trading on Friday, hitting $3.99. The company had a trading volume of 484 shares, compared to its average volume of 171,171. The company has a quick ratio of 12.49, a current ratio of 12.49 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average price is $3.68 and its 200-day moving average price is $3.77. Centessa Pharmaceuticals has a 52-week low of $2.88 and a 52-week high of $9.95.

Institutional Trading of Centessa Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EcoR1 Capital LLC increased its stake in Centessa Pharmaceuticals by 1,007.1% in the 3rd quarter. EcoR1 Capital LLC now owns 3,236,352 shares of the company’s stock worth $13,010,000 after buying an additional 2,944,032 shares during the period. JPMorgan Chase & Co. lifted its holdings in Centessa Pharmaceuticals by 275.9% during the fourth quarter. JPMorgan Chase & Co. now owns 12,747 shares of the company’s stock worth $39,000 after buying an additional 9,356 shares during the period. Tanager Wealth Management LLP bought a new stake in Centessa Pharmaceuticals during the 4th quarter valued at $5,823,000. Ensign Peak Advisors Inc increased its holdings in shares of Centessa Pharmaceuticals by 101.7% in the 3rd quarter. Ensign Peak Advisors Inc now owns 248,228 shares of the company’s stock valued at $998,000 after acquiring an additional 125,157 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter worth $81,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

About Centessa Pharmaceuticals

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Centessa Pharmaceuticals plc, a clinical-stage pharmaceutical company, discovers, develops, and delivers medicines to patients. Its registrational pipeline products include Lixivaptan, a vasopressin V2 receptor small molecule inhibitor that is in Phase III clinical development for the treatment of autosomal dominant polycystic kidney disease; and SerpinPC, an activated protein C inhibitor, which is in Phase IIa clinical development for the treatment of hemophilia A and B.