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Centessa Pharmaceuticals plc (NASDAQ:CNTA), a biotechnology company with a market capitalization of $2.23 billion, has reported that Tia L. Bush, the company’s Chief Technology and Quality Officer, recently sold 11,000 ordinary shares for a total of $185,406. The shares were sold at an average price of $16.8551, with transactions occurring at prices ranging from $16.22 to $17.11. According to InvestingPro data, CNTA’s stock has shown remarkable performance, delivering a 114.74% return over the past year. This sale was conducted as part of a Rule 10b5-1 trading plan, which Bush adopted in September 2024.
In a separate transaction, 8,693 shares were withheld by the company to cover tax obligations related to the vesting of restricted share units, valued at $16.92 per share, totaling $147,085. Additionally, Bush acquired 125,000 share options at an exercise price of $16.90, which will vest in monthly installments starting in March 2025.
Following these transactions, Bush holds 121,503 shares directly.
In other recent news, Centessa Pharmaceuticals has made significant strides in its development pipeline. The company recently appointed Stephen Kanes MD PhD as its new Chief Medical (TASE:PMCN) Officer. In his previous roles, Dr. Kanes has contributed to the development of novel treatments for a variety of neurological and psychiatric conditions. His expertise will be crucial as Centessa continues to progress its portfolio of orexin receptor 2 (OX2R) agonists.
Research firm Cowen initiated coverage of Centessa with a Buy rating, expressing optimism about the potential of the company’s drug candidate ORX750. Meanwhile, Leerink Partners maintained an Outperform rating and raised its price target for Centessa shares, reflecting a more optimistic view on the company’s product pipeline. Guggenheim also maintained a Buy rating on Centessa, raising the price target following recent strategic developments from the company.
These recent developments reveal a positive outlook for Centessa Pharmaceuticals as it continues to advance its clinical trials and move towards potential commercialization. The company’s focus on developing potential best-in-class oral OX2R agonists for the treatment of sleep-wake disorders and other symptoms related to neurological and psychiatric conditions continues to attract attention from various analysts.
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