Century Therapeutics, Inc. (NASDAQ:IPSC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $3.6667.

A number of analysts recently issued reports on IPSC shares. Wall Street Zen cut Century Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Piper Sandler upped their target price on Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. HC Wainwright upped their target price on Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. TD Cowen started coverage on Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating on the stock. Finally, Zacks Research lowered Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th.

Century Therapeutics Stock Down 1.7%

NASDAQ IPSC opened at $2.34 on Friday. The company has a market cap of $422.03 million, a PE ratio of -2.05 and a beta of 1.55. Century Therapeutics has a 52 week low of $0.44 and a 52 week high of $3.04. The firm’s 50-day simple moving average is $2.33 and its two-hundred day simple moving average is $1.64.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. As a group, equities research analysts anticipate that Century Therapeutics will post -0.63 EPS for the current year.

Insider Activity at Century Therapeutics

In other news, insider Gregory Russotti sold 10,076 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $2.55, for a total value of $25,693.80. Following the completion of the transaction, the insider owned 515,427 shares in the company, valued at $1,314,338.85. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 17,862 shares of company stock valued at $45,488. Company insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IPSC. Prudential Financial Inc. bought a new stake in shares of Century Therapeutics in the 2nd quarter worth $25,000. Bank of New York Mellon Corp purchased a new stake in Century Therapeutics during the first quarter valued at $29,000. Qube Research & Technologies Ltd purchased a new stake in Century Therapeutics during the second quarter valued at $38,000. Quadrant Private Wealth Management LLC increased its position in Century Therapeutics by 31.0% during the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock valued at $45,000 after acquiring an additional 4,736 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Century Therapeutics during the second quarter valued at $51,000. Hedge funds and other institutional investors 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.