Centessa Pharmaceuticals (NASDAQ:CNTA) Reaches New 1-Year High – Still a Buy?

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.42 and last traded at $24.8350, with a volume of 11215 shares changing hands. The stock had previously closed at $24.90.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CNTA shares. Truist Financial set a $30.00 price target on shares of Centessa Pharmaceuticals in a report on Wednesday. Chardan Capital restated a “buy” rating and issued a $30.00 target price on shares of Centessa Pharmaceuticals in a report on Tuesday, August 12th. Oppenheimer started coverage on shares of Centessa Pharmaceuticals in a report on Friday, August 29th. They set an “outperform” rating and a $40.00 price objective for the company. Stephens began coverage on shares of Centessa Pharmaceuticals in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Wells Fargo & Company began coverage on shares of Centessa Pharmaceuticals in a research report on Wednesday, September 3rd. They set an “overweight” rating and a $31.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Centessa Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Centessa Pharmaceuticals Trading Down 6.1%

The stock has a 50-day simple moving average of $21.95 and a two-hundred day simple moving average of $16.95. The firm has a market cap of $2.99 billion, a PE ratio of -12.30 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.12 and a current ratio of 10.11.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). As a group, sell-side analysts anticipate that Centessa Pharmaceuticals PLC Sponsored ADR will post -1.6 EPS for the current year.

Insider Buying and Selling

In other Centessa Pharmaceuticals news, CTO Tia L. Bush sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $24.00, for a total value of $840,000.00. Following the completion of the transaction, the chief technology officer directly owned 121,503 shares in the company, valued at $2,916,072. This represents a 22.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mario Alberto Accardi sold 8,000 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $25.00, for a total transaction of $200,000.00. Following the sale, the insider directly owned 194,394 shares of the company’s stock, valued at approximately $4,859,850. This trade represents a 3.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 145,964 shares of company stock valued at $3,169,861. 7.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake in Centessa Pharmaceuticals by 15,209.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,215 shares of the company’s stock worth $46,000 after buying an additional 3,194 shares during the period. Osterweis Capital Management Inc. purchased a new position in Centessa Pharmaceuticals during the first quarter worth $47,000. Bank of New York Mellon Corp bought a new position in Centessa Pharmaceuticals in the first quarter worth about $147,000. Fox Run Management L.L.C. bought a new position in Centessa Pharmaceuticals in the first quarter worth about $160,000. Finally, Vestal Point Capital LP acquired a new position in shares of Centessa Pharmaceuticals during the first quarter valued at about $214,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

About Centessa Pharmaceuticals

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.