Century Therapeutics, Inc. (NASDAQ:IPSC) Stock Has Average Target Price of $4.75 According to Brokerages

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.75.

Several brokerages have commented on IPSC. Wall Street Zen cut shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research report on Tuesday, September 29th.

Century Therapeutics Trading Up 11.3%

NASDAQ:IPSC opened at $1.68 on Friday. The company has a market cap of $304.20 million, a PE ratio of -1.81 and a beta of 1.78. The company’s 50 day moving average is $1.68 and its two-hundred day moving average is $2.08. Century Therapeutics has a twelve month low of $0.43 and a twelve month high of $3.04.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). As a group, analysts expect that Century Therapeutics will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Century Therapeutics

A number of hedge funds have recently added to or reduced their stakes in IPSC. Spark Investment Management LLC acquired a new stake in shares of Century Therapeutics during the 2nd quarter worth $145,000. AXQ Capital LP purchased a new stake in Century Therapeutics during the second quarter valued at approximately $145,000. Wellington Management Group LLP purchased a new stake in Century Therapeutics during the 2nd quarter valued at $201,000. Seven Fleet Capital Management LP acquired a new position in shares of Century Therapeutics during the second quarter worth $10,652,174. Finally, Bank of America Corp DE purchased a new position in shares of Century Therapeutics during the 2nd quarter valued at approximately $389,000. Institutional investors own 50.20% of the company’s stock.

About Century Therapeutics

Century Therapeutics, Inc is a biotechnology company focused on developing allogeneic, or “off-the-shelf,” cell therapies for cancer. The company uses induced pluripotent stem cell (iPSC) technology to create immune-effector cells, including natural killer (NK) cells and T cells, that can be engineered to recognize and attack tumor cells.

Century’s pipeline has included product candidates designed for hematologic malignancies and solid tumors. Its programs incorporate technologies intended to improve the persistence, activity, and scalability of engineered immune cells, with development efforts involving targets such as CD19 and other tumor-associated antigens.