Centessa Pharmaceuticals (NASDAQ:CNTA) Reaches New 12-Month High – Time to Buy?

Shares of Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.00 and last traded at $25.3890, with a volume of 3420521 shares. The stock had previously closed at $22.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CNTA shares. Guggenheim reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Centessa Pharmaceuticals in a research note on Monday, October 6th. Wall Street Zen upgraded Centessa Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, October 27th. Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a report on Friday, August 29th. They issued an “outperform” rating and a $40.00 price objective for the company. Stephens began coverage on Centessa Pharmaceuticals in a research report on Tuesday, October 28th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Chardan Capital reissued a “buy” rating and issued a $30.00 target price on shares of Centessa Pharmaceuticals in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.56.

Centessa Pharmaceuticals Stock Performance

The firm has a market cap of $3.49 billion, a P/E ratio of -14.26 and a beta of 1.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 10.57 and a current ratio of 10.56. The business’s 50-day simple moving average is $22.51 and its 200 day simple moving average is $17.28.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). As a group, equities analysts predict that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Iqbal J. Hussain sold 6,000 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $22.41, for a total transaction of $134,460.00. Following the completion of the transaction, the general counsel directly owned 105,386 shares of the company’s stock, valued at approximately $2,361,700.26. This trade represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mario Alberto Accardi sold 8,000 shares of Centessa Pharmaceuticals stock in a transaction on Monday, October 27th. The shares were sold at an average price of $25.00, for a total transaction of $200,000.00. Following the completion of the sale, the insider owned 194,394 shares in the company, valued at approximately $4,859,850. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 145,964 shares of company stock worth $3,169,861. Corporate insiders own 7.09% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of CNTA. Adage Capital Partners GP L.L.C. grew its holdings in Centessa Pharmaceuticals by 35.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company’s stock valued at $99,999,000 after purchasing an additional 1,834,973 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Centessa Pharmaceuticals during the third quarter valued at approximately $42,429,000. Balyasny Asset Management L.P. purchased a new stake in shares of Centessa Pharmaceuticals in the second quarter worth approximately $16,052,000. Commodore Capital LP lifted its stake in shares of Centessa Pharmaceuticals by 39.3% during the 2nd quarter. Commodore Capital LP now owns 3,298,289 shares of the company’s stock worth $43,340,000 after acquiring an additional 930,711 shares during the last quarter. Finally, Stempoint Capital LP boosted its holdings in Centessa Pharmaceuticals by 113.3% during the 2nd quarter. Stempoint Capital LP now owns 1,265,672 shares of the company’s stock valued at $16,631,000 after acquiring an additional 672,337 shares during the period. 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.