Century Therapeutics, Inc. (NASDAQ:IPSC) Receives Consensus Rating of “Hold” from Brokerages

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $4.75.

Several brokerages have recently issued reports on IPSC. Mizuho began coverage on Century Therapeutics in a research report on Wednesday, May 27th. They set an “outperform” rating and a $8.00 target price for the company. HC Wainwright raised their target price on 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 reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research report on Monday, April 6th. TD Cowen began coverage on Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating for the company. Finally, Wall Street Zen raised Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th.

Insider Activity

In other news, insider Gregory Russotti sold 10,076 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $2.55, for a total transaction of $25,693.80. Following the completion of the sale, the insider directly owned 515,427 shares of the company’s stock, valued at $1,314,338.85. This trade represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 18,156 shares of company stock worth $45,902. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

Several large investors have recently made changes to their positions in IPSC. Bank of America Corp DE increased its position in shares of Century Therapeutics by 109.1% during the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after purchasing an additional 34,466 shares during the last quarter. AQR Capital Management LLC increased its holdings in Century Therapeutics by 358.9% in the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after acquiring an additional 86,875 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Century Therapeutics by 26.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock worth $86,000 after acquiring an additional 38,052 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Century Therapeutics by 101.2% in 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 during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Century Therapeutics in the 2nd quarter worth about $25,000. 50.20% of the stock is owned by hedge funds and other institutional investors.

Century Therapeutics Trading Up 4.2%

Shares of NASDAQ:IPSC opened at $2.21 on Wednesday. The stock’s fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $1.85. Century Therapeutics has a 1-year low of $0.44 and a 1-year high of $3.04. The stock has a market cap of $398.57 million, a PE ratio of -1.94 and a beta of 1.56.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data 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. On average, sell-side analysts forecast that Century Therapeutics will post -0.43 earnings per share for the current fiscal year.

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.