Following these transactions, Saha holds 429,398 shares directly. Additionally, he maintains indirect ownership of 38,000 shares held in a trust, where he and his spouse serve as trustees. The sales were conducted under a Rule 10b5-1 trading plan, which Saha adopted on May 16, 2024. The $2.17 billion market cap company maintains strong liquidity, with a current ratio of 21.52. For deeper insights into Centessa's financial health and comprehensive analysis, including 10+ additional ProTips, visit InvestingPro. The $2.17 billion market cap company maintains strong liquidity, with a current ratio of 21.52. For deeper insights into Centessa's financial health and comprehensive analysis, including 10+ additional ProTips, visit InvestingPro.
Following these transactions, Saha holds 429,398 shares directly. Additionally, he maintains indirect ownership of 38,000 shares held in a trust, where he and his spouse serve as trustees. The sales were conducted under a Rule 10b5-1 trading plan, which Saha adopted on May 16, 2024.
In other recent news, Centessa Pharmaceuticals announced the appointment of Stephen Kanes MD PhD as its new Chief Medical (TASE:PMCN) Officer. The company also reported progress in its portfolio of orexin receptor 2 (OX2R) agonists, with its lead candidate, ORX750, currently in Phase 2 clinical trials. Centessa Pharmaceuticals further highlighted its proprietary LockBody technology platform, aimed at advancing immuno-oncology treatments.
On the analyst front, Cowen initiated coverage of Centessa, assigning a Buy rating due to the potential of ORX750. Leerink Partners maintained an Outperform rating while raising the stock's price target in response to a promising update to the Phase 1 ORX750 program. Guggenheim also maintained a Buy rating on Centessa shares, raising its price target following strategic developments, particularly updates for ORX750. Lastly, Morgan Stanley (NYSE:MS) upgraded Centessa to Overweight following promising interim Phase 1 results from the ORX750 study.
These recent developments underscore Centessa's ongoing efforts in the pharmaceutical industry, with a focus on developing potential best-in-class oral OX2R agonists for the treatment of sleep-wake disorders and other neurological and psychiatric conditions.
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