Centessa Pharmaceuticals (NASDAQ:CNTA) Shares Gap Up to $6.63

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $6.63, but opened at $7.48. Centessa Pharmaceuticals shares last traded at $7.52, with a volume of 43,138 shares changing hands.

Wall Street Analyst Weigh In

CNTA has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on Centessa Pharmaceuticals from $11.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, July 25th. SVB Securities increased their price objective on shares of Centessa Pharmaceuticals from $6.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, August 15th. The Goldman Sachs Group lifted their target price on shares of Centessa Pharmaceuticals from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Guggenheim increased their price target on shares of Centessa Pharmaceuticals from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, Morgan Stanley upgraded Centessa Pharmaceuticals from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $4.00 to $8.00 in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.43.

Centessa Pharmaceuticals Stock Up 11.8 %

The company has a current ratio of 10.35, a quick ratio of 10.35 and a debt-to-equity ratio of 0.26. The firm has a market cap of $705.14 million, a price-to-earnings ratio of -4.04 and a beta of 1.28. The firm’s 50 day simple moving average is $6.47 and its two-hundred day simple moving average is $6.15.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.17. On average, equities analysts forecast that Centessa Pharmaceuticals plc will post -1.74 EPS for the current year.

Insider Activity

In other news, SVP Harris Rotman sold 37,484 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $6.29, for a total transaction of $235,774.36. Following the sale, the senior vice president now directly owns 33,500 shares of the company’s stock, valued at approximately $210,715. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.54% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sio Capital Management LLC acquired a new stake in shares of Centessa Pharmaceuticals in the 1st quarter valued at approximately $1,339,000. Barclays PLC acquired a new stake in Centessa Pharmaceuticals in the first quarter valued at approximately $25,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Centessa Pharmaceuticals by 25.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,830,500 shares of the company’s stock worth $18,313,000 after buying an additional 580,500 shares during the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Centessa Pharmaceuticals during the third quarter worth $2,092,000. Finally, Affinity Asset Advisors LLC lifted its stake in shares of Centessa Pharmaceuticals by 13.0% in the 3rd quarter. Affinity Asset Advisors LLC now owns 1,018,091 shares of the company’s stock valued at $6,587,000 after acquiring an additional 117,368 shares during the last quarter. Institutional investors own 73.92% of the company’s stock.

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.