Century Therapeutics (NASDAQ:IPSC) Cut to Sell at Wall Street Zen

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

A number of other research analysts have also commented on IPSC. Leerink Partners set a $2.00 price target on Century Therapeutics and gave the company a “market perform” rating in a report on Friday, March 13th. Zacks Research downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. HC Wainwright increased their target price on shares of Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a research note on Monday, April 6th. Finally, Mizuho assumed coverage on shares of Century Therapeutics in a research report on Wednesday, May 27th. They set an “outperform” rating and a $8.00 price target on the stock. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.75.

Century Therapeutics Price Performance

IPSC opened at $2.32 on Friday. Century Therapeutics has a 12 month low of $0.44 and a 12 month high of $3.04. The stock has a market cap of $418.41 million, a P/E ratio of -2.04 and a beta of 1.56. The stock’s 50 day moving average price is $2.28 and its 200 day moving average price is $2.00.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. Equities analysts anticipate that Century Therapeutics will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds have recently modified their holdings of IPSC. Versant Venture Management LLC bought a new position in Century Therapeutics during the first quarter valued at about $27,495,000. Commodore Capital LP acquired a new position in Century Therapeutics during the first quarter worth about $19,652,000. Seven Fleet Capital Management LP bought a new stake in Century Therapeutics in the first quarter worth about $9,826,000. Spruce Street Capital LP raised its position in Century Therapeutics by 185.5% in the first quarter. Spruce Street Capital LP now owns 4,059,054 shares of the company’s stock worth $9,173,000 after acquiring an additional 2,637,522 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Century Therapeutics in the 4th quarter valued at about $1,829,000. 50.20% of the stock is currently owned by institutional investors and hedge funds.

About Century Therapeutics

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.