Centessa Pharmaceuticals (NASDAQ:CNTA) Given “Buy” Rating at Guggenheim

Guggenheim reiterated their buy rating on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a research note released on Wednesday,Benzinga reports. They currently have a $28.00 target price on the stock.

Several other research analysts have also recently weighed in on CNTA. TD Cowen initiated coverage on Centessa Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $27.00 price objective on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $26.00.

Centessa Pharmaceuticals Price Performance

Shares of NASDAQ CNTA opened at $14.59 on Wednesday. The firm has a market cap of $1.92 billion, a PE ratio of -9.54 and a beta of 1.54. The firm has a fifty day moving average of $16.48 and a 200 day moving average of $16.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.52 and a current ratio of 21.52. Centessa Pharmaceuticals has a one year low of $7.75 and a one year high of $19.09.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Monday, March 24th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.04. As a group, research analysts predict that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insider Activity

In related news, CTO Tia L. Bush sold 11,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $16.86, for a total transaction of $185,460.00. Following the completion of the sale, the chief technology officer now directly owns 121,503 shares of the company’s stock, valued at approximately $2,048,540.58. This trade represents a 8.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Iqbal J. Hussain sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $15.29, for a total transaction of $91,740.00. Following the completion of the sale, the general counsel now owns 118,265 shares in the company, valued at approximately $1,808,271.85. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,168 shares of company stock valued at $4,309,568. 11.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in Centessa Pharmaceuticals during the third quarter worth $2,834,000. Wellington Management Group LLP purchased a new stake in shares of Centessa Pharmaceuticals in the 3rd quarter valued at $1,609,000. State Street Corp acquired a new position in Centessa Pharmaceuticals during the 3rd quarter worth about $777,000. Ally Bridge Group NY LLC purchased a new position in Centessa Pharmaceuticals during the 3rd quarter valued at about $4,951,000. Finally, Lord Abbett & CO. LLC acquired a new position in Centessa Pharmaceuticals in the 3rd quarter valued at about $4,305,000. 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 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.