B. Riley Forecasts Strong Price Appreciation for Centessa Pharmaceuticals (NASDAQ:CNTA) Stock

Centessa Pharmaceuticals (NASDAQ:CNTA) had its target price boosted by analysts at B. Riley from $33.00 to $42.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target indicates a potential upside of 47.32% from the company’s previous close.

Several other brokerages also recently issued reports on CNTA. Wells Fargo & Company raised their price objective on shares of Centessa Pharmaceuticals from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Chardan Capital raised shares of Centessa Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, November 19th. Lifesci Capital upgraded shares of Centessa Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Centessa Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Stephens assumed coverage on shares of Centessa Pharmaceuticals in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Centessa Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $35.50.

Centessa Pharmaceuticals Trading Up 0.1%

Centessa Pharmaceuticals stock opened at $28.51 on Monday. Centessa Pharmaceuticals has a 52 week low of $9.60 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 10.57 and a current ratio of 10.56. The firm has a market capitalization of $3.83 billion, a PE ratio of -15.58 and a beta of 1.55. The business’s 50-day simple moving average is $24.72 and its 200-day simple moving average is $18.89.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its earnings results on Wednesday, November 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). Equities research analysts forecast that Centessa Pharmaceuticals will post -1.6 earnings per share for the current year.

Insider Transactions at Centessa Pharmaceuticals

In other Centessa Pharmaceuticals news, General Counsel Iqbal J. Hussain sold 20,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $20.01, for a total transaction of $400,200.00. Following the completion of the transaction, the general counsel directly owned 105,386 shares in the company, valued at $2,108,773.86. This represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Tia L. Bush sold 40,000 shares of Centessa Pharmaceuticals stock in a transaction 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 transaction, the chief technology officer directly owned 121,503 shares of the company’s stock, valued at approximately $3,159,078. The trade was a 24.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 179,964 shares of company stock valued at $4,106,481. Corporate insiders own 7.09% of the company’s stock.

Institutional Investors Weigh In On Centessa Pharmaceuticals

Several large investors have recently made changes to their positions in CNTA. Campbell & CO Investment Adviser LLC acquired a new stake in Centessa Pharmaceuticals during the 2nd quarter valued at $218,000. Cutter Capital Management LP grew its holdings in shares of Centessa Pharmaceuticals by 184.3% during the first quarter. Cutter Capital Management LP now owns 418,127 shares of the company’s stock worth $6,013,000 after purchasing an additional 271,051 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Centessa Pharmaceuticals by 1.2% during the first quarter. American Century Companies Inc. now owns 1,092,754 shares of the company’s stock worth $15,714,000 after purchasing an additional 13,046 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Centessa Pharmaceuticals by 20.6% in the first quarter. Wellington Management Group LLP now owns 138,767 shares of the company’s stock valued at $1,995,000 after buying an additional 23,660 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Centessa Pharmaceuticals in the first quarter valued at about $3,273,000. Institutional investors 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.