Tia L. Bush, Chief Technology & Quality Officer at Centessa Pharmaceuticals plc (NASDAQ:CNTA), disclosed significant stock transactions according to a recent SEC filing. On December 16 and 17, Bush sold a total of 27,424 ordinary shares at prices ranging from $16.3621 to $18.00 per share, resulting in a total sale value of approximately $477,890. These transactions were executed under a pre-arranged Rule 10b5-1 trading plan.
Additionally, on December 17, Bush acquired 17,813 shares through an option exercise at a price of $3.85 per share, totaling $68,580. Following these transactions, Bush holds 147,615 shares directly. The ordinary shares may be represented by American Depositary Shares, each corresponding to one ordinary share.
In other recent news, Centessa Pharmaceuticals has seen several significant updates. Leerink Partners raised the price target for Centessa to $24, maintaining an Outperform rating, reflecting an optimistic view on the company's ORX750 program. This adjustment came after a promising update to the Phase 1 ORX750 program, targeting orexin receptor 2 agonists. Leerink Partners also raised its projections for Centessa's total company sales in 2032 by 4%, from $1.2 billion to $1.3 billion, and earnings per share (EPS) by 18%, from $4.42 to $5.21.
Guggenheim also raised its price target for Centessa to $28, maintaining a buy rating based on strategic developments, particularly updates for ORX750. BMO (TSX: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 also 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. The company's ORX142 has shown promise in preclinical studies for treating excessive daytime sleepiness. The company is advancing ORX142 through investigational new drug studies, highlighting a significant market opportunity for the treatment. These recent developments highlight the ongoing efforts of Centessa Pharmaceuticals in the pharmaceutical industry.
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