Centessa Pharmaceuticals (NASDAQ:CNTA) Now Covered by Analysts at Piper Sandler

Equities researchers at Piper Sandler assumed coverage on shares of Centessa Pharmaceuticals (NASDAQ:CNTA) in a report issued on Monday,Benzinga reports. The brokerage set an “overweight” rating and a $38.00 price target on the stock. Piper Sandler’s price objective would suggest a potential upside of 160.45% from the company’s current price.

CNTA has been the topic of a number of other research reports. Guggenheim reiterated a “buy” rating and set a $28.00 target price on shares of Centessa Pharmaceuticals in a research report on Wednesday, March 26th. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 target price on shares of Centessa Pharmaceuticals in a research report on Friday, March 7th. Finally, TD Cowen started coverage on shares of Centessa Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $27.71.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA stock opened at $14.59 on Monday. Centessa Pharmaceuticals has a 52-week low of $7.75 and a 52-week high of $19.09. The company has a quick ratio of 21.52, a current ratio of 21.52 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $16.48 and a 200-day simple moving average of $16.44. The stock has a market cap of $1.92 billion, a PE ratio of -9.54 and a beta of 1.54.

Centessa Pharmaceuticals (NASDAQ:CNTA) last posted its earnings results on Monday, March 24th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.04. On average, equities analysts expect that Centessa Pharmaceuticals will post -1.6 EPS for the current year.

Insider Activity at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, General Counsel Iqbal J. Hussain sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $15.29, for a total transaction of $91,740.00. Following the completion of the sale, the general counsel now owns 118,265 shares of the company’s stock, valued at $1,808,271.85. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Tia L. Bush sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $16.86, for a total transaction of $185,460.00. Following the completion of the sale, the chief technology officer now directly owns 121,503 shares in the company, valued at $2,048,540.58. This trade represents a 8.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,168 shares of company stock valued at $4,309,568. 11.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in Centessa Pharmaceuticals in the 3rd quarter valued at approximately $2,834,000. Wellington Management Group LLP purchased a new position in Centessa Pharmaceuticals in the third quarter valued at $1,609,000. State Street Corp acquired a new position in Centessa Pharmaceuticals during the 3rd quarter worth $777,000. Lord Abbett & CO. LLC purchased a new stake in Centessa Pharmaceuticals during the 3rd quarter worth about $4,305,000. Finally, Franklin Resources Inc. raised its position in Centessa Pharmaceuticals by 99.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,302,546 shares of the company’s stock valued at $38,360,000 after purchasing an additional 1,145,823 shares in the last quarter. Institutional investors and hedge funds 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.