Century Therapeutics (NASDAQ:IPSC) Stock Rating Upgraded by Wall Street Zen

Century Therapeutics (NASDAQ:IPSC) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also issued research reports about the stock. Zacks Research raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Leerink Partners lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. TD Cowen started coverage on shares of Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating for the company. Finally, Piper Sandler lifted their target price on shares of Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3.80.

Century Therapeutics Stock Performance

Shares of IPSC opened at $2.56 on Friday. The firm has a market cap of $223.74 million, a P/E ratio of -8.00 and a beta of 1.70. Century Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.71. The company’s 50-day moving average price is $1.92 and its 200 day moving average price is $1.04.

Insider Buying and Selling at Century Therapeutics

In related news, CEO Brent Pfeiffenberger bought 52,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average cost of $0.58 per share, for a total transaction of $30,160.00. Following the completion of the acquisition, the chief executive officer owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. This trade represents a 1.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chad Cowan bought 58,060 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average cost of $0.85 per share, with a total value of $49,351.00. Following the completion of the purchase, the insider directly owned 1,045,087 shares in the company, valued at $888,323.95. This represents a 5.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 1,106 shares of company stock worth $1,003. Insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC increased its stake in shares of Century Therapeutics by 64.1% during the third quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock worth $180,000 after buying an additional 140,891 shares during the period. Acadian Asset Management LLC grew its holdings in Century Therapeutics by 101.2% during the 1st quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock worth $133,000 after acquiring an additional 142,953 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Century Therapeutics by 483.1% during the 3rd quarter. Squarepoint Ops LLC now owns 236,053 shares of the company’s stock worth $118,000 after acquiring an additional 195,573 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Century Therapeutics by 26.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after purchasing an additional 38,052 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Century Therapeutics in the 2nd quarter valued at $78,000. 50.20% of the stock is owned by institutional investors and hedge funds.

Century Therapeutics Company Profile

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company’s proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.