Centessa Pharmaceuticals (NASDAQ:CNTA) Trading Up 3.2% – Time to Buy?

Centessa Pharmaceuticals plc (NASDAQ:CNTA)’s stock price shot up 3.2% during trading on Tuesday . The company traded as high as $15.42 and last traded at $15.53. 122,953 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 791,823 shares. The stock had previously closed at $15.04.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNTA shares. Guggenheim reiterated a “buy” rating on shares of Centessa Pharmaceuticals in a research report on Monday, February 10th. TD Cowen assumed coverage on Centessa Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals Stock Performance

The firm has a fifty day moving average price of $16.51 and a two-hundred day moving average price of $16.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The stock has a market capitalization of $2.16 billion, a PE ratio of -10.73 and a beta of 1.53.

Insiders Place Their Bets

In related news, insider Karen M. Anderson sold 5,876 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $17.01, for a total value of $99,950.76. Following the transaction, the insider now owns 71,525 shares of the company’s stock, valued at $1,216,640.25. This represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saurabh Saha sold 55,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.93, for a total value of $876,150.00. Following the transaction, the chief executive officer now owns 331,017 shares in the company, valued at $5,273,100.81. The trade was a 14.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 446,682 shares of company stock worth $7,632,282 over the last quarter. Company insiders own 11.59% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in CNTA. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Centessa Pharmaceuticals by 47.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,556 shares of the company’s stock worth $40,000 after buying an additional 826 shares during the period. Atria Investments Inc lifted its stake in shares of Centessa Pharmaceuticals by 7.0% during the 3rd quarter. Atria Investments Inc now owns 17,134 shares of the company’s stock worth $274,000 after purchasing an additional 1,116 shares during the last quarter. GSA Capital Partners LLP boosted its position in Centessa Pharmaceuticals by 66.1% during the third quarter. GSA Capital Partners LLP now owns 93,658 shares of the company’s stock valued at $1,498,000 after purchasing an additional 37,275 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Centessa Pharmaceuticals by 88.1% in the third quarter. The Manufacturers Life Insurance Company now owns 264,969 shares of the company’s stock valued at $4,237,000 after purchasing an additional 124,075 shares during the last quarter. Finally, FMR LLC raised its holdings in Centessa Pharmaceuticals by 4.6% in the third quarter. FMR LLC now owns 2,916,494 shares of the company’s stock worth $46,635,000 after purchasing an additional 129,300 shares in the last quarter. 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.