Centessa Pharmaceuticals (NASDAQ:CNTA) Now Covered by B. Riley

Investment analysts at B. Riley assumed coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $33.00 price target on the stock. B. Riley’s price target suggests a potential upside of 99.03% from the stock’s previous close.

Several other brokerages have also weighed in on CNTA. Morgan Stanley lifted their price target 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. Jefferies Financial Group lifted their price target on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Oppenheimer restated an “outperform” rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. Guggenheim lifted their price target on Centessa Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets lifted their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Centessa Pharmaceuticals presently has an average rating of “Buy” and an average price target of $25.17.

Centessa Pharmaceuticals Stock Performance

NASDAQ CNTA opened at $16.58 on Thursday. The stock has a 50-day simple moving average of $12.28 and a two-hundred day simple moving average of $10.64. The firm has a market capitalization of $1.67 billion, a P/E ratio of -11.68 and a beta of 1.44. 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 quick ratio of 13.29 and a current ratio of 13.29.

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

Insiders Place Their Bets

In other news, CEO Saurabh Saha sold 175,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the transaction, the chief executive officer now directly owns 776,924 shares in the company, valued at approximately $12,834,784.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Saurabh Saha sold 175,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $16.52, for a total value of $2,891,000.00. Following the completion of the sale, the chief executive officer now owns 776,924 shares of the company’s stock, valued at $12,834,784.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory M. Weinhoff sold 12,198 shares of Centessa Pharmaceuticals stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total transaction of $148,449.66. Following the transaction, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. The disclosure for this sale can be found here. In the last three months, insiders sold 271,873 shares of company stock worth $4,381,150. Corporate insiders own 11.59% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CNTA. Quarry LP increased its position in shares of Centessa Pharmaceuticals by 47.8% during the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after purchasing an additional 3,108 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Centessa Pharmaceuticals by 69.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,817 shares of the company’s stock worth $122,000 after purchasing an additional 4,423 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Centessa Pharmaceuticals during the 1st quarter worth about $109,000. Sandia Investment Management LP acquired a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth about $90,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Centessa Pharmaceuticals during the 2nd quarter worth about $99,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.