Guggenheim Raises Centessa Pharmaceuticals (NASDAQ:CNTA) Price Target to $24.00

Centessa Pharmaceuticals (NASDAQ:CNTA) had its price objective hoisted by Guggenheim from $20.00 to $24.00 in a research note released on Wednesday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on CNTA. Morgan Stanley lifted their target price on Centessa Pharmaceuticals from $8.00 to $11.00 and gave the stock an equal weight rating in a report on Friday, June 21st. BMO Capital Markets lifted their target price on Centessa Pharmaceuticals from $15.00 to $20.00 and gave the stock an outperform rating in a report on Monday, September 9th. Oppenheimer reiterated an outperform rating and issued a $14.00 target price on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Finally, Jefferies Financial Group lifted their target price on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a buy rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Centessa Pharmaceuticals presently has an average rating of Moderate Buy and a consensus target price of $17.60.

Centessa Pharmaceuticals Stock Performance

NASDAQ CNTA opened at $16.99 on Wednesday. The stock has a market capitalization of $1.93 billion, a PE ratio of -11.96 and a beta of 1.44. The business has a 50 day simple moving average of $11.76 and a two-hundred day simple moving average of $10.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 13.29 and a quick ratio of 13.29. Centessa Pharmaceuticals has a 1-year low of $5.15 and a 1-year high of $17.59.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). On average, research analysts predict that Centessa Pharmaceuticals will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gregory M. Weinhoff sold 12,198 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total transaction of $148,449.66. Following the completion of the sale, the insider now directly owns 241,171 shares of the company’s stock, valued at approximately $2,935,051.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 4,169 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $12.32, for a total value of $51,362.08. Following the completion of the sale, the chief executive officer now directly owns 827,755 shares in the company, valued at approximately $10,197,941.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory M. Weinhoff sold 12,198 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the completion of the sale, the insider now owns 241,171 shares of the company’s stock, valued at $2,935,051.07. The disclosure for this sale can be found here. In the last three months, insiders sold 216,873 shares of company stock valued at $3,472,000. Insiders own 11.59% of the company’s stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC purchased a new stake in shares of Centessa Pharmaceuticals in the 2nd quarter worth $4,064,000. Perceptive Advisors LLC lifted its holdings in shares of Centessa Pharmaceuticals by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 3,933,307 shares of the company’s stock worth $35,518,000 after buying an additional 850,000 shares during the period. Quarry LP raised its position in shares of Centessa Pharmaceuticals by 47.8% in the 2nd quarter. Quarry LP now owns 9,608 shares of the company’s stock worth $87,000 after acquiring an additional 3,108 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Centessa Pharmaceuticals by 89.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,092,011 shares of the company’s stock worth $18,891,000 after acquiring an additional 987,997 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Centessa Pharmaceuticals by 30.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 140,894 shares of the company’s stock worth $1,272,000 after acquiring an additional 32,846 shares in the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Centessa Pharmaceuticals Company Profile

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.