Centessa Pharmaceuticals (NASDAQ:CNTA) Coverage Initiated by Analysts at Oppenheimer

by · The Markets Daily

Equities researchers at Oppenheimer assumed coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA – Get Free Report) in a note issued to investors on Wednesday. The firm set an “outperform” rating and a $62.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 116.78% from the company’s previous close.

Several other research firms have also issued reports on CNTA. Wells Fargo & Company lifted their target price on shares of Centessa Pharmaceuticals from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Chardan Capital upgraded Centessa Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Wall Street Zen raised Centessa Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a report on Wednesday, October 8th. Finally, Stephens started coverage on Centessa Pharmaceuticals in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $37.70.

Read Our Latest Report on CNTA

Centessa Pharmaceuticals Stock Performance

Shares of CNTA stock opened at $28.60 on Wednesday. The company’s fifty day moving average price is $25.28 and its 200-day moving average price is $19.47. The stock has a market cap of $3.84 billion, a PE ratio of -15.63 and a beta of 1.55. The company has a current ratio of 10.56, a quick ratio of 10.57 and a debt-to-equity ratio of 0.36. Centessa Pharmaceuticals has a 12 month low of $9.60 and a 12 month high of $30.58.

Centessa Pharmaceuticals (NASDAQ:CNTA – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). On average, equities analysts expect that Centessa Pharmaceuticals will post -1.6 EPS for the current fiscal year.

Insider Activity

In related news, insider Mario Alberto Accardi sold 10,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the insider directly owned 178,801 shares of the company’s stock, valued at $5,364,030. This trade represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Tia L. Bush sold 40,000 shares of Centessa Pharmaceuticals stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $26.00, for a total value of $1,040,000.00. Following the completion of the sale, the chief technology officer owned 121,503 shares of the company’s stock, valued at $3,159,078. The trade was a 24.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,172 shares of company stock valued at $2,820,441 over the last ninety days. 7.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC grew its position in Centessa Pharmaceuticals by 116.2% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,808,080 shares of the company’s stock worth $262,096,000 after purchasing an additional 5,808,080 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 buying an additional 1,834,973 shares during the period. Federated Hermes Inc. purchased a new position in shares of Centessa Pharmaceuticals in the 3rd quarter worth $42,429,000. Balyasny Asset Management L.P. bought a new stake in shares of Centessa Pharmaceuticals in the second quarter worth $16,052,000. Finally, Commodore Capital LP increased its position in Centessa Pharmaceuticals by 39.3% during the second quarter. Commodore Capital LP now owns 3,298,289 shares of the company’s stock valued at $43,340,000 after acquiring an additional 930,711 shares during the last quarter. Institutional investors own 82.01% of the company’s stock.

Centessa Pharmaceuticals Company Profile

(Get Free Report)

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.

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