Saurabh Saha, the Chief Executive Officer of Centessa Pharmaceuticals plc (NASDAQ:CNTA), recently sold 55,000 ordinary shares of the company, according to a recent SEC filing. The shares were sold at a weighted average price of $17.44, with prices ranging from $17.12 to $17.90. The transaction comes as the stock has shown remarkable performance, gaining over 136% in the past year, according to InvestingPro data. This transaction was conducted under a Rule 10b5-1 trading plan adopted on May 16, 2024. Following this sale, Saha retains direct ownership of 520,661 shares, while an additional 38,000 shares are held indirectly in a trust. With a market capitalization of $2.31 billion and analyst price targets ranging from $24 to $35, InvestingPro subscribers can access detailed insights and 8 additional key tips about CNTA’s valuation and growth prospects.
In other recent news, Centessa Pharmaceuticals has seen a wave of positive developments. Leerink Partners raised Centessa’s stock price target to $24, maintaining an Outperform rating, due to an optimistic view on the company’s product pipeline, particularly the ORX750 program. Guggenheim also increased its price target for Centessa to $28, maintaining a buy rating, based on strategic developments, particularly updates for ORX750. BMO Capital Markets maintained its Outperform rating and a $35.00 price target for Centessa, based on new data for ORX142, which supports the company’s leading position in the orexin agonist market. Oppenheimer maintained its positive stance on Centessa with an Outperform rating and a steady price target of $24.00, buoyed by promising preclinical data for ORX142. Morgan Stanley (NYSE:MS) upgraded Centessa to Overweight from Equalweight, raising the price target to $26, following the promising interim Phase 1 results of the company’s ORX750 study. Centessa is also advancing ORX142 through investigational new drug studies, highlighting a significant market opportunity for the treatment. These recent developments highlight Centessa’s ongoing efforts in the pharmaceutical industry.
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