Centessa Pharmaceuticals (NASDAQ:CNTA) Downgraded by Zacks Investment Research

Centessa Pharmaceuticals (NASDAQ:CNTA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Centessa Pharmaceuticals plc is a clinical-stage company employing its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients. Centessa Pharmaceuticals plc is based in Cambridge, United Kingdom. “

Shares of Centessa Pharmaceuticals stock traded down $0.05 during trading hours on Thursday, hitting $11.38. The company’s stock had a trading volume of 500,329 shares, compared to its average volume of 200,407. Centessa Pharmaceuticals has a 12 month low of $10.71 and a 12 month high of $26.90. The stock has a 50 day simple moving average of $16.07.

Centessa Pharmaceuticals (NASDAQ:CNTA) last announced its quarterly earnings results on Sunday, November 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.10. On average, equities research analysts expect that Centessa Pharmaceuticals will post -2 EPS for the current fiscal year.

In other news, insider Tia L. Bush acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The stock was acquired at an average cost of $12.46 per share, for a total transaction of $62,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aaron Kantoff bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 18th. The stock was acquired at an average cost of $11.98 per share, with a total value of $119,800.00. The disclosure for this purchase can be found here. Insiders have bought 38,000 shares of company stock valued at $464,540 in the last three months.

Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in Centessa Pharmaceuticals in the second quarter valued at approximately $760,000. RA Capital Management L.P. bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $28,435,000. VR Adviser LLC bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $25,037,000. State of Wisconsin Investment Board bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $1,785,000. Finally, Boxer Capital LLC bought a new position in shares of Centessa Pharmaceuticals in the 2nd quarter valued at about $20,083,000. Hedge funds and other institutional investors own 63.51% of the company’s stock.

About Centessa Pharmaceuticals

Centessa Pharmaceuticals Limited, a pharmaceutical company, develops and delivers life-altering and life-enhancing medicines to patients. Its products pipeline include Lixivaptan, a vasopressin V2 receptor small molecule inhibitor that is in Phase 3 clinical development for the treatment of autosomal dominant polycystic kidney disease; SerpinPC, an activated protein C inhibitor, which is in Phase 2a clinical development for the treatment of hemophilia A and B; Imgatuzumab, an anti-EGFR monoclonal antibody expected to enter a Phase 2 clinical trial for the treatment of cutaneous squamous cell carcinoma, as well as is being considered for the treatment of other solid tumors in the context of combination treatment with immunotherapy; and ZF874, a small molecule chemical chaperone folding corrector of the Z variant of alpha-1-antitrypsin in Phase 1 clinical development for the treatment of alpha-1-antitrypsin deficiency.

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