Fred Alger Management LLC Buys 12,898 Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA)

Fred Alger Management LLC increased its position in shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,451 shares of the company’s stock after acquiring an additional 12,898 shares during the quarter. Fred Alger Management LLC owned about 0.14% of Centessa Pharmaceuticals worth $3,190,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Centessa Pharmaceuticals during the fourth quarter worth $5,083,000. Cutter Capital Management LP acquired a new stake in Centessa Pharmaceuticals during the 4th quarter worth $2,464,000. BNP Paribas Financial Markets bought a new position in Centessa Pharmaceuticals during the fourth quarter worth about $162,000. Ameriprise Financial Inc. acquired a new position in Centessa Pharmaceuticals in the fourth quarter valued at about $320,000. Finally, Allostery Investments LP bought a new stake in shares of Centessa Pharmaceuticals in the fourth quarter worth about $4,766,000. Institutional investors and hedge funds own 82.01% of the company’s stock.

Insider Activity

In other news, General Counsel Iqbal J. Hussain sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.18, for a total value of $97,080.00. Following the sale, the general counsel now directly owns 105,386 shares of the company’s stock, valued at approximately $1,705,145.48. This represents a 5.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.93, for a total transaction of $876,150.00. Following the completion of the sale, the chief executive officer now owns 331,017 shares of the company’s stock, valued at $5,273,100.81. This trade represents a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,827 shares of company stock valued at $2,705,568. 11.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Chardan Capital initiated coverage on Centessa Pharmaceuticals in a research report on Thursday. They issued a “buy” rating and a $30.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price target on shares of Centessa Pharmaceuticals in a report on Friday, March 7th. Oppenheimer initiated coverage on shares of Centessa Pharmaceuticals in a report on Thursday. They set an “outperform” rating and a $6.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Centessa Pharmaceuticals in a research report on Wednesday, March 26th. Finally, Piper Sandler initiated coverage on Centessa Pharmaceuticals in a report on Monday, March 31st. They set an “overweight” rating and a $38.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $27.00.

Centessa Pharmaceuticals Stock Down 0.8 %

Shares of CNTA stock opened at $12.29 on Friday. The firm’s fifty day moving average price is $13.86 and its two-hundred day moving average price is $15.67. Centessa Pharmaceuticals plc has a 1 year low of $7.75 and a 1 year high of $19.09. 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 firm has a market capitalization of $1.64 billion, a P/E ratio of -8.03 and a beta of 1.53.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Monday, March 24th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.04. On average, equities analysts predict that Centessa Pharmaceuticals plc will post -1.6 EPS for the current fiscal year.

About Centessa Pharmaceuticals

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.