Investors Purchase High Volume of Centessa Pharmaceuticals Call Options (NASDAQ:CNTA)

Centessa Pharmaceuticals PLC Sponsored ADR (NASDAQ:CNTA) saw unusually large options trading on Tuesday. Stock traders acquired 5,507 call options on the company. This represents an increase of approximately 586% compared to the average daily volume of 803 call options.

Insiders Place Their Bets

In other Centessa Pharmaceuticals news, insider Mario Alberto Accardi sold 8,000 shares of Centessa Pharmaceuticals stock in a transaction 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 completion of the sale, the insider owned 194,394 shares of the company’s stock, valued at approximately $4,859,850. The trade was a 3.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Tia L. Bush sold 40,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $26.00, for a total transaction of $1,040,000.00. Following the sale, the chief technology officer owned 121,503 shares of the company’s stock, valued at $3,159,078. The trade was a 24.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 179,964 shares of company stock valued at $4,106,481. 7.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Centessa Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC lifted its holdings in shares of Centessa Pharmaceuticals by 116.2% in the third quarter. Avoro Capital Advisors LLC now owns 10,808,080 shares of the company’s stock valued at $262,096,000 after purchasing an additional 5,808,080 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Centessa Pharmaceuticals by 35.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,954,000 shares of the company’s stock valued at $99,999,000 after buying an additional 1,834,973 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Centessa Pharmaceuticals in the 3rd quarter valued at approximately $42,429,000. Balyasny Asset Management L.P. bought a new stake in Centessa Pharmaceuticals in the 2nd quarter valued at approximately $16,052,000. Finally, Commodore Capital LP boosted its position in Centessa Pharmaceuticals by 39.3% during the 2nd quarter. Commodore Capital LP now owns 3,298,289 shares of the company’s stock worth $43,340,000 after acquiring an additional 930,711 shares during the last quarter. Institutional investors own 82.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CNTA has been the subject of a number of analyst reports. Oppenheimer began coverage on Centessa Pharmaceuticals in a research note on Friday, August 29th. They set an “outperform” rating and a $40.00 price objective for the company. Stephens initiated coverage on Centessa Pharmaceuticals in a research report on Tuesday, October 28th. They set an “overweight” rating and a $35.00 target price for the company. Wall Street Zen raised Centessa Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, October 27th. Truist Financial set a $30.00 price target on shares of Centessa Pharmaceuticals in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Centessa Pharmaceuticals from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Centessa Pharmaceuticals presently has an average rating of “Buy” and an average target price of $35.50.

Centessa Pharmaceuticals Stock Performance

Shares of CNTA stock opened at $29.08 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 10.57 and a current ratio of 10.56. Centessa Pharmaceuticals has a 52 week low of $9.60 and a 52 week high of $29.99. The company’s 50 day moving average price is $24.83 and its two-hundred day moving average price is $18.96. The company has a market capitalization of $3.91 billion, a P/E ratio of -15.89 and a beta of 1.55.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly 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). On average, analysts expect that Centessa Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

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.