Century Therapeutics (NASDAQ:IPSC) Raised to “Hold” at Wall Street Zen

Century Therapeutics (NASDAQ:IPSC) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other brokerages have also weighed in on IPSC. Leerink Partners lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Zacks Research raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Piper Sandler increased their price target on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Century Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3.80.

Century Therapeutics Stock Up 4.8%

Shares of IPSC stock opened at $2.42 on Friday. The firm has a market cap of $211.51 million, a price-to-earnings ratio of -7.56 and a beta of 1.72. Century Therapeutics has a 12 month low of $0.34 and a 12 month high of $2.58. The stock has a 50-day moving average price of $1.05 and a 200 day moving average price of $0.72.

Century Therapeutics (NASDAQ:IPSC) last issued its earnings results on Thursday, November 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. Sell-side analysts predict that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Chad Cowan purchased 58,060 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were purchased at an average price of $0.85 per share, with a total value of $49,351.00. Following the purchase, the insider directly owned 1,045,087 shares of the company’s stock, valued at $888,323.95. This trade represents a 5.88% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brent Pfeiffenberger purchased 52,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $1,927,334.20. This represents a 1.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 145,060 shares of company stock valued at $97,011 and sold 65,987 shares valued at $29,798. 4.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Century Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. bought a new stake in Century Therapeutics in the 2nd quarter valued at approximately $25,000. Qube Research & Technologies Ltd bought a new position in shares of Century Therapeutics during the 2nd quarter worth approximately $38,000. Y Intercept Hong Kong Ltd bought a new position in shares of Century Therapeutics during the 2nd quarter worth approximately $50,000. Raymond James Financial Inc. acquired a new stake in shares of Century Therapeutics in the second quarter valued at approximately $51,000. Finally, AQR Capital Management LLC lifted its position in shares of Century Therapeutics by 358.9% in the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after purchasing an additional 86,875 shares in the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.