Centessa Pharmaceuticals (NASDAQ:CNTA) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Centessa Pharmaceuticals (NASDAQ:CNTA) from an equal weight rating to an overweight rating in a report released on Thursday morning, MarketBeat.com reports. The brokerage currently has $26.00 price objective on the stock, up from their previous price objective of $11.00.

A number of other analysts also recently commented on the company. Jefferies Financial Group boosted their price objective on Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Oppenheimer reiterated an outperform rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, August 14th. Guggenheim boosted their price target on shares of Centessa Pharmaceuticals from $20.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, September 11th. BMO Capital Markets boosted their price target on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an outperform rating in a research report on Monday, September 16th. Finally, B. Riley started coverage on shares of Centessa Pharmaceuticals in a research report on Thursday. They issued a buy rating and a $33.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $25.17.

Centessa Pharmaceuticals Stock Up 4.6 %

Centessa Pharmaceuticals stock opened at $16.58 on Thursday. Centessa Pharmaceuticals has a 52 week low of $5.15 and a 52 week high of $17.59. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -11.68 and a beta of 1.44. The company’s 50-day moving average price is $12.41 and its two-hundred day moving average price is $10.67. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.27.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). On average, analysts expect that Centessa Pharmaceuticals will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 175,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the sale, the chief executive officer now owns 776,924 shares in the company, valued at approximately $12,834,784.48. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Centessa Pharmaceuticals news, CEO Saurabh Saha sold 175,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $16.52, for a total transaction of $2,891,000.00. Following the sale, the chief executive officer now owns 776,924 shares in the company, valued at approximately $12,834,784.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gregory M. Weinhoff sold 12,198 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total value of $148,449.66. Following the sale, the insider now owns 241,171 shares in the company, valued at approximately $2,935,051.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,873 shares of company stock worth $4,381,150. Company insiders own 11.59% of the company’s stock.

Institutional Trading of Centessa Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of CNTA. First Light Asset Management LLC increased its holdings in shares of Centessa Pharmaceuticals by 59.2% in the 2nd quarter. First Light Asset Management LLC now owns 4,780,560 shares of the company’s stock valued at $43,168,000 after purchasing an additional 1,778,515 shares during the period. Perceptive Advisors LLC increased 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 valued at $35,518,000 after purchasing an additional 850,000 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Centessa Pharmaceuticals by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,958,079 shares of the company’s stock valued at $33,427,000 after purchasing an additional 418,615 shares during the period. Driehaus Capital Management LLC increased its holdings 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 valued at $18,891,000 after purchasing an additional 987,997 shares during the period. Finally, Octagon Capital Advisors LP increased its holdings in shares of Centessa Pharmaceuticals by 333.2% in the 4th quarter. Octagon Capital Advisors LP now owns 2,060,100 shares of the company’s stock valued at $16,398,000 after purchasing an additional 1,584,500 shares during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

About Centessa Pharmaceuticals

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.