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Gregory M. Weinhoff, the Chief Business Officer of Centessa Pharmaceuticals plc (NASDAQ:CNTA), a $2.16 billion market cap biopharmaceutical company whose stock has surged over 102% in the past year, recently sold 11,742 ordinary shares of the company. According to InvestingPro data, the company maintains strong financial health with a robust current ratio of 21.5x, indicating excellent liquidity. The shares were sold at a weighted average price of $16.4733 per share, with the transactions occurring at prices ranging from $16.22 to $16.69. This sale, conducted under a Rule 10b5-1 trading plan adopted on May 22, 2024, totaled approximately $193,429. Following this transaction, Weinhoff holds 159,782 shares directly. The ordinary shares may also be represented by American Depositary Shares, each equivalent to one ordinary share. Notably, analysts maintain a bullish outlook on CNTA, with price targets ranging from $24 to $35, suggesting significant upside potential. InvestingPro subscribers have access to 10 additional key insights about CNTA, including detailed financial health metrics and growth prospects.
In other recent news, Centessa Pharmaceuticals has experienced several notable developments. The clinical-stage pharmaceutical company announced the appointment of Stephen Kanes MD PhD as its new Chief Medical (TASE:PMCN) Officer. Dr. Kanes brings over 30 years of experience in neuroscience, clinical psychiatry, and drug development to Centessa as it advances its portfolio of orexin receptor 2 (OX2R) agonists. Cowen research firm initiated coverage of Centessa, assigning a Buy rating due to the potential of the company’s drug candidate ORX750, aimed at treating a range of hypersomnia indications. Leerink Partners also showed confidence in Centessa, raising the stock’s price target while maintaining an Outperform rating following a promising update to its Phase 1 ORX750 program. Guggenheim maintained a positive outlook on Centessa, raising the price target and keeping a Buy rating on the stock, particularly in light of recent updates for ORX750. Lastly, Morgan Stanley (NYSE:MS) upgraded Centessa to Overweight after the promising interim Phase 1 results of the company’s ORX750 study. These developments are part of Centessa’s ongoing efforts in the pharmaceutical industry.
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