Centessa Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:CNTA)

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) saw some unusual options trading activity on Tuesday. Traders acquired 5,507 call options on the stock. This represents an increase of 586% compared to the average volume of 803 call options.

Centessa Pharmaceuticals Stock Performance

NASDAQ CNTA traded up $0.15 during trading hours on Tuesday, hitting $28.62. The company had a trading volume of 596,253 shares, compared to its average volume of 1,140,448. Centessa Pharmaceuticals has a fifty-two week low of $9.60 and a fifty-two week high of $29.99. The firm has a market cap of $3.85 billion, a P/E ratio of -15.64 and a beta of 1.56. The company has a quick ratio of 10.57, a current ratio of 10.56 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $24.62 and a 200-day simple moving average of $18.77.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its 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). Equities analysts predict that Centessa Pharmaceuticals will post -1.6 EPS for the current year.

Insider Activity

In other news, General Counsel Iqbal J. Hussain sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the general counsel owned 105,386 shares in the company, valued at $2,361,700.26. This trade represents a 5.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Tia L. Bush sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $26.00, for a total value of $1,040,000.00. Following the completion of the transaction, the chief technology officer owned 121,503 shares in the company, valued at $3,159,078. This represents a 24.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 179,964 shares of company stock valued at $4,106,481 in the last 90 days. Company insiders own 7.09% of the company’s stock.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Several institutional investors have recently bought and sold shares of CNTA. Caitong International Asset Management Co. Ltd increased its stake in shares of Centessa Pharmaceuticals by 15,209.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company’s stock worth $46,000 after purchasing an additional 3,194 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Centessa Pharmaceuticals in the 1st quarter valued at approximately $47,000. DNB Asset Management AS acquired a new position in shares of Centessa Pharmaceuticals during the third quarter valued at about $218,000. Bank of New York Mellon Corp bought a new stake in Centessa Pharmaceuticals in the first quarter valued at about $147,000. Finally, Fox Run Management L.L.C. bought a new position in Centessa Pharmaceuticals during the first quarter worth about $160,000. 82.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Truist Financial set a $30.00 price objective on shares of Centessa Pharmaceuticals in a research note on Wednesday, November 5th. Oppenheimer initiated coverage on Centessa Pharmaceuticals in a research note on Friday, August 29th. They issued an “outperform” rating and a $40.00 target price on the stock. Lifesci Capital upgraded Centessa Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, September 3rd. Chardan Capital raised shares of Centessa Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $35.50.

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.