Fred Alger Management LLC Raises Position in Centessa Pharmaceuticals plc (NASDAQ:CNTA)

Fred Alger Management LLC lifted its stake in shares of Centessa Pharmaceuticals plc (NASDAQ:CNTA) by 1,515.1% during the third quarter, Holdings Channel reports. The fund owned 177,553 shares of the company’s stock after acquiring an additional 166,560 shares during the period. Fred Alger Management LLC’s holdings in Centessa Pharmaceuticals were worth $2,839,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. HighMark Wealth Management LLC purchased a new stake in Centessa Pharmaceuticals during the 2nd quarter worth about $840,000. TD Asset Management Inc increased its stake in shares of Centessa Pharmaceuticals by 40.5% during the second quarter. TD Asset Management Inc now owns 321,168 shares of the company’s stock worth $2,900,000 after buying an additional 92,524 shares during the period. American Century Companies Inc. raised its holdings in Centessa Pharmaceuticals by 1.3% in the second quarter. American Century Companies Inc. now owns 935,151 shares of the company’s stock valued at $8,444,000 after acquiring an additional 12,031 shares in the last quarter. XTX Topco Ltd purchased a new position in Centessa Pharmaceuticals in the second quarter worth approximately $148,000. Finally, Farallon Capital Management LLC grew its holdings in Centessa Pharmaceuticals by 438.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,996,000 shares of the company’s stock worth $18,024,000 after acquiring an additional 1,625,000 shares in the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Centessa Pharmaceuticals news, insider Gregory M. Weinhoff sold 16,619 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $15.69, for a total transaction of $260,752.11. Following the transaction, the insider now owns 206,750 shares in the company, valued at approximately $3,243,907.50. The trade was a 7.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saurabh Saha sold 1,671 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.24, for a total value of $30,479.04. Following the transaction, the chief executive officer now directly owns 575,661 shares of the company’s stock, valued at approximately $10,500,056.64. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 375,128 shares of company stock valued at $6,148,522. Company insiders own 11.59% of the company’s stock.

Centessa Pharmaceuticals Stock Up 1.8 %

Shares of NASDAQ:CNTA opened at $17.91 on Monday. Centessa Pharmaceuticals plc has a 1-year low of $5.58 and a 1-year high of $18.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.52 and a quick ratio of 21.52. The stock has a market cap of $2.36 billion, a P/E ratio of -11.71 and a beta of 1.47. The firm has a fifty day moving average price of $16.22 and a 200 day moving average price of $12.69.

Centessa Pharmaceuticals (NASDAQ:CNTA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. Sell-side analysts predict that Centessa Pharmaceuticals plc will post -1.6 EPS for the current year.

Analyst Ratings Changes

CNTA has been the subject of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of Centessa Pharmaceuticals from $20.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Guggenheim upped their price objective on Centessa Pharmaceuticals from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. B. Riley started coverage on Centessa Pharmaceuticals in a report on Thursday, September 19th. They issued a “buy” rating and a $33.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Centessa Pharmaceuticals in a report on Wednesday, August 14th. Finally, Jefferies Financial Group raised their price objective on shares of Centessa Pharmaceuticals from $13.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Centessa Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $25.83.

Centessa Pharmaceuticals 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.