Centessa Pharmaceuticals (NASDAQ:CNTA) Sees Strong Trading Volume

Shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) saw an uptick in trading volume on Wednesday . 625,600 shares changed hands during trading, an increase of 78% from the previous session’s volume of 352,390 shares.The stock last traded at $9.02 and had previously closed at $9.40.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets restated an “outperform” rating and issued a $15.00 price target on shares of Centessa Pharmaceuticals in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Centessa Pharmaceuticals Stock Performance

The stock’s 50-day simple moving average is $10.90 and its 200-day simple moving average is $8.51. The stock has a market cap of $895.77 million, a price-to-earnings ratio of -5.69 and a beta of 1.38. The company has a current ratio of 8.00, a quick ratio of 8.00 and a debt-to-equity ratio of 0.32.

Centessa Pharmaceuticals (NASDAQ:CNTA) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. The company had revenue of $6.85 million for the quarter. Analysts forecast that Centessa Pharmaceuticals plc will post -1.83 earnings per share for the current fiscal year.

Insider Transactions at Centessa Pharmaceuticals

In related news, insider Karen M. Anderson sold 51,160 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $11.88, for a total value of $607,780.80. Following the completion of the transaction, the insider now owns 71,525 shares of the company’s stock, valued at $849,717. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Karen M. Anderson sold 51,160 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $11.88, for a total transaction of $607,780.80. Following the sale, the insider now owns 71,525 shares in the company, valued at approximately $849,717. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Harris Rotman sold 4,267 shares of Centessa Pharmaceuticals stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.10, for a total transaction of $34,562.70. Following the completion of the transaction, the senior vice president now directly owns 62,625 shares in the company, valued at $507,262.50. The disclosure for this sale can be found here. 11.54% of the stock is currently owned by insiders.

Institutional Trading of Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of CNTA. TD Asset Management Inc raised its stake in Centessa Pharmaceuticals by 127.1% during the third quarter. TD Asset Management Inc now owns 186,310 shares of the company’s stock worth $1,205,000 after acquiring an additional 104,255 shares in the last quarter. Platinum Investment Management Ltd. grew its holdings in shares of Centessa Pharmaceuticals by 96.7% during the 3rd quarter. Platinum Investment Management Ltd. now owns 337,544 shares of the company’s stock valued at $2,184,000 after purchasing an additional 165,919 shares during the last quarter. Rathbones Group PLC bought a new stake in shares of Centessa Pharmaceuticals during the 3rd quarter valued at approximately $203,000. Affinity Asset Advisors LLC increased its position in Centessa Pharmaceuticals by 13.0% during the 3rd quarter. Affinity Asset Advisors LLC now owns 1,018,091 shares of the company’s stock worth $6,587,000 after purchasing an additional 117,368 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Centessa Pharmaceuticals by 25.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,830,500 shares of the company’s stock valued at $18,313,000 after purchasing an additional 580,500 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors.

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.