Key Points
Connecticut-based Braidwell initiated a position of 2,188,320 Centessa shares in the fourth quarter.
The quarter-end value of the position increased by $54.73 million, reflecting the new stake.
The transaction represented a new position equal to 1.75% of 13F reportable assets under management.
On February 17, 2026, Connecticut-based Braidwell disclosed a new position in Centessa Pharmaceuticals(NASDAQ:CNTA), acquiring 2,188,320 shares in an estimated $54.73 million trade.
What happened
In a new U.S. Securities and Exchange Commission (SEC) filing released February 17, 2026 (link), Braidwell disclosed the purchase of 2,188,320 shares of Centessa. The net position change for the quarter was $54.73 million, reflecting the new holding’s quarter-end valuation.
What else to know
- The new stake represents 1.75% of 13F reportable assets under management.
- Top holdings after the filing:
- NASDAQ:CAI: $210.88 million (8.08% of AUM)
- NASDAQ:EWTX: $129.31 million (4.95% of AUM)
- NASDAQ:NBIX: $106.59 million (4.08% of AUM)
- NYSE:GKOS: $104.10 million (3.99% of AUM)
- NASDAQ:NUVL: $82.63 million (3.16% of AUM)
- As of February 17, 2026, Centessa shares were priced at $24.94, up 53.4% over the prior year and well outperforming the S&P 500 by 34.19 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 17, 2026) | $24.94 |
| Market Capitalization | $3.37 billion |
| Revenue (TTM) | $15.00 million |
| Net Income (TTM) | ($242.70 million) |
Company snapshot
- Centessa develops a pipeline of clinical-stage and proof-of-concept drug candidates, including Lixivaptan (Phase III for polycystic kidney disease) and SerpinPC (Phase IIa for hemophilia), along with several emerging and exploratory therapies targeting rare diseases, autoimmune disorders, and oncology.
- The company operates a research-driven business model focused on discovering, developing, and advancing novel therapeutics through clinical trials, aiming to generate value primarily from successful drug approvals and subsequent commercialization or licensing agreements.
- Centessa targets patients with rare and serious diseases, partnering with healthcare professionals, hospitals, and specialty care providers as its primary customer base.
Centessa is a clinical-stage biotechnology company headquartered in the United Kingdom. The company leverages a diversified pipeline approach, advancing multiple candidates across nephrology, hematology, immunology, and rare disease indications. Its strategy emphasizes rapid clinical development and potential first-in-class therapies, positioning Centessa to address significant unmet medical needs in specialty care markets.
What this transaction means for investors
Centessa’s evolution into a pure-play orexin company reframes its risk profile. The company appointed Mario Accardi, architect of its orexin program, as CEO effective January 1, underscoring a sharpened focus on OX2R agonists. That strategic shift has already begun to show momentum, with ORX750 advancing in Phase 2a and a registrational program expected to initiate this quarter.
Fresh preclinical data also support expansion beyond rare hypersomnias into neuropsychiatric indications, including depressive disorders. The stock has climbed 53% over the past year to $24.94, far outpacing the broader market. Even so, the new stake represents just 1.75% of reportable equity assets, which is modest compared with larger positions in names like CAI or NBIX.
For long-term investors, this looks like a measured swing at platform optionality. Orexin agonists could address excessive daytime sleepiness, cognitive impairment, and mood symptoms across multiple high-value indications. But clinical-stage neuroscience remains volatile, and this position sizing suggests conviction with discipline.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Centessa Pharmaceuticals Plc. The Motley Fool recommends Neurocrine Biosciences. The Motley Fool has a disclosure policy.
