Centessa Pharmaceuticals (NASDAQ:CNTA) Releases Earnings Results, Beats Expectations By $0.05 EPS

Centessa Pharmaceuticals (NASDAQ:CNTA) released its quarterly earnings data on Tuesday. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05, Zacks reports.

Centessa Pharmaceuticals Price Performance

Shares of NASDAQ:CNTA traded up $1.09 during trading on Wednesday, hitting $18.09. 527,953 shares of the company’s stock were exchanged, compared to its average volume of 398,917. Centessa Pharmaceuticals has a 1-year low of $5.58 and a 1-year high of $18.74. The firm has a 50-day moving average price of $15.74 and a two-hundred day moving average price of $11.99. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.27.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Centessa Pharmaceuticals from $20.00 to $24.00 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 target price on shares of Centessa Pharmaceuticals in a research note on Wednesday, August 14th. BMO Capital Markets raised their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. B. Riley started coverage on shares of Centessa Pharmaceuticals in a report on Thursday, September 19th. They set a “buy” rating and a $33.00 price target for the company. Finally, Morgan Stanley raised shares of Centessa Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $11.00 to $26.00 in a report on Thursday, September 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $25.17.

Insider Transactions at Centessa Pharmaceuticals

In related news, insider Gregory M. Weinhoff sold 12,198 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $12.17, for a total transaction of $148,449.66. Following the completion of the transaction, the insider now owns 241,171 shares in the company, valued at approximately $2,935,051.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Saurabh Saha sold 4,169 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.32, for a total value of $51,362.08. Following the sale, the chief executive officer now owns 827,755 shares of the company’s stock, valued at $10,197,941.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gregory M. Weinhoff sold 12,198 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $12.17, for a total transaction of $148,449.66. Following the sale, the insider now directly owns 241,171 shares in the company, valued at $2,935,051.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 325,031 shares of company stock worth $5,213,043 in the last quarter. 11.59% of the stock is owned by company insiders.

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.