B. Riley Raises Centessa Pharmaceuticals (NASDAQ:CNTA) Price Target to $42.00

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price objective increased by analysts at B. Riley from $33.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 44.90% from the company’s previous close.

A number of other analysts have also commented on CNTA. Wall Street Zen upgraded shares of Centessa Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, October 27th. Lifesci Capital raised Centessa Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, September 3rd. Truist Financial set a $30.00 price objective on Centessa Pharmaceuticals in a report on Wednesday, November 5th. Chardan Capital upgraded Centessa Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $35.50.

Centessa Pharmaceuticals Stock Down 0.2%

Shares of Centessa Pharmaceuticals stock traded down $0.05 on Monday, reaching $28.99. The company’s stock had a trading volume of 200,603 shares, compared to its average volume of 1,136,235. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -15.83 and a beta of 1.55. The company has a quick ratio of 10.57, a current ratio of 10.56 and a debt-to-equity ratio of 0.36. Centessa Pharmaceuticals has a 52 week low of $9.60 and a 52 week high of $29.99. The firm’s fifty day simple moving average is $24.52 and its two-hundred day simple moving average is $18.66.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). Equities analysts anticipate that Centessa Pharmaceuticals will post -1.6 earnings per share for the current year.

Insider Activity at Centessa Pharmaceuticals

In other news, insider Mario Alberto Accardi sold 8,172 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $21.40, for a total value of $174,880.80. Following the transaction, the insider owned 197,394 shares of the company’s stock, valued at $4,224,231.60. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Iqbal J. Hussain sold 20,000 shares of Centessa Pharmaceuticals stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $20.01, for a total value of $400,200.00. Following the transaction, the general counsel directly owned 105,386 shares in the company, valued at approximately $2,108,773.86. The trade was a 15.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 179,964 shares of company stock worth $4,106,481. Corporate insiders own 7.09% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNTA. TCG Crossover Management LLC grew its stake in shares of Centessa Pharmaceuticals by 8.5% during the third quarter. TCG Crossover Management LLC now owns 3,136,480 shares of the company’s stock valued at $76,060,000 after buying an additional 245,664 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Centessa Pharmaceuticals in the third quarter worth about $2,772,000. Jain Global LLC bought a new position in shares of Centessa Pharmaceuticals during the third quarter valued at approximately $5,868,000. HighVista Strategies LLC increased its holdings in shares of Centessa Pharmaceuticals by 55.6% in the 3rd quarter. HighVista Strategies LLC now owns 63,301 shares of the company’s stock valued at $1,535,000 after acquiring an additional 22,617 shares during the period. Finally, Fred Alger Management LLC grew its stake in Centessa Pharmaceuticals by 53.8% in the third quarter. Fred Alger Management LLC now owns 190,360 shares of the company’s stock valued at $4,616,000 after purchasing an additional 66,604 shares during the last quarter. 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.