Centessa Pharmaceuticals (NASDAQ:CNTA) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Centessa Pharmaceuticals (NASDAQ:CNTA) from an equal weight rating to an overweight rating in a report issued on Thursday, Marketbeat Ratings reports. Morgan Stanley currently has $26.00 target price on the stock, up from their previous target price of $11.00.

Other equities analysts have also issued reports about the stock. Oppenheimer restated an outperform rating and set a $14.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Guggenheim upped their price target on 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 lifted their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a buy rating in a research report on Wednesday, September 11th. B. Riley began coverage on Centessa Pharmaceuticals in a report on Thursday. They issued a buy rating and a $33.00 target price for the company. Finally, 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 report on Monday, September 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $25.17.

Centessa Pharmaceuticals Stock Performance

CNTA opened at $16.58 on Thursday. Centessa Pharmaceuticals has a 52-week low of $5.15 and a 52-week high of $17.59. The firm’s fifty day simple moving average is $12.41 and its two-hundred day simple moving average is $10.67. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -11.68 and a beta of 1.44.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Equities analysts anticipate that Centessa Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Saurabh Saha sold 4,169 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total transaction of $51,362.08. Following the completion of the sale, the chief executive officer now directly owns 827,755 shares of the company’s stock, valued at approximately $10,197,941.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gregory M. Weinhoff sold 12,198 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Saurabh Saha sold 4,169 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total transaction of $51,362.08. Following the completion of the sale, the chief executive officer now owns 827,755 shares of the company’s stock, valued at approximately $10,197,941.60. The disclosure for this sale can be found here. Insiders have sold a total of 271,873 shares of company stock valued at $4,381,150 in the last quarter. Insiders own 11.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC acquired a new position in Centessa Pharmaceuticals during the 4th quarter worth about $114,000. Trexquant Investment LP acquired a new stake in shares of Centessa Pharmaceuticals during the fourth quarter worth about $114,000. Franklin Resources Inc. boosted its stake in shares of Centessa Pharmaceuticals by 34.1% in the fourth quarter. Franklin Resources Inc. now owns 1,115,817 shares of the company’s stock valued at $8,882,000 after purchasing an additional 283,469 shares during the period. Platinum Investment Management Ltd. grew its holdings in shares of Centessa Pharmaceuticals by 12.9% in the fourth quarter. Platinum Investment Management Ltd. now owns 381,083 shares of the company’s stock valued at $3,033,000 after purchasing an additional 43,539 shares in the last quarter. Finally, Octagon Capital Advisors LP increased its stake in Centessa Pharmaceuticals by 333.2% during the 4th quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock worth $16,398,000 after buying an additional 1,584,500 shares during the period. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

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.