Tanager Wealth Management Fully Exits Centessa Pharmaceuticals Stake
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Complete Exit: Tanager Wealth Management disclosed in a January 26 SEC filing that it sold its entire stake in Centessa Pharmaceuticals, totaling 598,044 shares in the fourth quarter, with an estimated transaction value of $14.50 million, indicating a complete liquidation of its investment in the company.
- Asset Management Shift: This exit means that Centessa now represents 0% of Tanager's reportable 13F AUM, down from 1.5% in the previous quarter, reflecting a significant reduction in confidence towards the stock.
- Improving Fundamentals: Despite Tanager's exit, Centessa's fundamentals are improving, as evidenced by its latest earnings report showing $349 million in cash and investments, along with a $250 million investment received in November, indicating a strengthening financial position.
- Market Performance Comparison: Centessa's stock price has risen approximately 56.7% over the past year, significantly outperforming the S&P 500's roughly 14% gain during the same period, highlighting its potential and market recognition in the biotechnology sector.
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Analyst Views on CNTA
Wall Street analysts forecast CNTA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CNTA is 38.75 USD with a low forecast of 27.00 USD and a high forecast of 62.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
13 Buy
0 Hold
0 Sell
Strong Buy
Current: 24.890
Low
27.00
Averages
38.75
High
62.00
Current: 24.890
Low
27.00
Averages
38.75
High
62.00
About CNTA
Centessa Pharmaceuticals plc is a clinical-stage pharmaceutical company. The Company is developing a new class of potential therapies within its orexin receptor 2 (OX2R) agonist program for the treatment of excessive daytime sleepiness (EDS), impaired attention, cognitive deficits, fatigue and other symptoms across neurological, neurodegenerative and neuropsychiatric disorders. It also has an early-stage immuno-oncology program focused on its LockBody technology platform. Its OX2R agonist pipeline includes ORX750, its advanced OX2R agonist development candidate, and ORX142, ORX489 and OX2R agonists in preclinical development. Its ORX750, an investigational, orally administered, highly potent and selective OX2R agonist, is in a Phase IIa study of participants with narcolepsy type 1 (NT1), NT2 and idiopathic hypersomnia (IH). ORX142 is the second OX2R agonist development candidate being advanced for the treatment of neurological and neurodegenerative disorders and other symptoms.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tanager Wealth Management Fully Exits Centessa Pharmaceuticals Stake
- Complete Exit: Tanager Wealth Management disclosed in a January 26 SEC filing that it sold its entire stake in Centessa Pharmaceuticals, totaling 598,044 shares in the fourth quarter, with an estimated transaction value of $14.50 million, indicating a complete liquidation of its investment in the company.
- Asset Management Shift: This exit means that Centessa now represents 0% of Tanager's reportable 13F AUM, down from 1.5% in the previous quarter, reflecting a significant reduction in confidence towards the stock.
- Improving Fundamentals: Despite Tanager's exit, Centessa's fundamentals are improving, as evidenced by its latest earnings report showing $349 million in cash and investments, along with a $250 million investment received in November, indicating a strengthening financial position.
- Market Performance Comparison: Centessa's stock price has risen approximately 56.7% over the past year, significantly outperforming the S&P 500's roughly 14% gain during the same period, highlighting its potential and market recognition in the biotechnology sector.
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Tanager Wealth Management Exits Entire CNTA Position
- Position Change: Tanager Wealth Management completely exited its position in Centessa Pharmaceuticals (CNTA) in Q4, selling 598,044 shares, resulting in a $14.50 million decrease in position value, reflecting both stock price movement and the sale itself.
- Asset Management Ratio Decline: This exit reduced CNTA's representation in Tanager Wealth Management's reported AUM from 1.5% to 0%, highlighting the fund's risk management strategy regarding individual biotech stocks.
- Market Performance Comparison: As of January 26, CNTA shares were priced at $25.73, up approximately 56.7% over the past year, significantly outperforming the S&P 500's roughly 14% gain during the same period, indicating market confidence in its fundamentals.
- Improving Company Fundamentals: Centessa Pharmaceuticals reported $349 million in cash and investments in its latest earnings release, along with $250 million from investors in November, showcasing its robust development in the clinical-stage biotech sector.
Continue Reading