Lord Abbett & CO. LLC Makes New Investment in Centessa Pharmaceuticals plc (NASDAQ:CNTA)

Lord Abbett & CO. LLC bought a new stake in Centessa Pharmaceuticals plc (NASDAQ:CNTA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 269,205 shares of the company’s stock, valued at approximately $4,305,000. Lord Abbett & CO. LLC owned approximately 0.20% of Centessa Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Light Asset Management LLC lifted its position in Centessa Pharmaceuticals by 59.2% in the second quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock valued at $43,168,000 after purchasing an additional 1,778,515 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of Centessa Pharmaceuticals by 438.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock valued at $18,024,000 after buying an additional 1,625,000 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Centessa Pharmaceuticals in the 3rd quarter valued at approximately $20,698,000. Franklin Resources Inc. boosted its stake in shares of Centessa Pharmaceuticals by 99.1% in the third quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock valued at $38,360,000 after buying an additional 1,145,823 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in Centessa Pharmaceuticals by 89.5% during the second quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after acquiring an additional 987,997 shares during the period. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA opened at $16.75 on Tuesday. Centessa Pharmaceuticals plc has a 12-month low of $6.65 and a 12-month high of $18.97. The stock has a market cap of $2.21 billion, a P/E ratio of -10.95 and a beta of 1.52. The company has a current ratio of 21.52, a quick ratio of 21.52 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $16.53 and a two-hundred day moving average of $13.40.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. As a group, research analysts predict that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CNTA shares. Morgan Stanley raised Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $11.00 to $26.00 in a report on Thursday, September 19th. Jefferies Financial Group raised their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. B. Riley began coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 target price for the company. BMO Capital Markets boosted their price target on Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, Guggenheim raised their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Centessa Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $25.83.

Insider Transactions at Centessa Pharmaceuticals

In related news, CEO Saurabh Saha sold 87,496 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $18.46, for a total value of $1,615,176.16. Following the completion of the transaction, the chief executive officer now owns 575,661 shares of the company’s stock, valued at approximately $10,626,702.06. The trade was a 13.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory M. Weinhoff sold 16,619 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $15.69, for a total transaction of $260,752.11. Following the sale, the insider now directly owns 206,750 shares in the company, valued at $3,243,907.50. This represents a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 262,624 shares of company stock valued at $4,497,698 over the last three months. 11.59% of the stock is currently owned by insiders.

Centessa Pharmaceuticals 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.