Century Therapeutics (NASDAQ:IPSC) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Century Therapeutics (NASDAQ:IPSC) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

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

Century Therapeutics Price Performance

IPSC opened at $2.42 on Friday. The firm has a market cap of $211.51 million, a PE ratio of -7.56 and a beta of 1.72. The stock has a 50-day moving average price of $1.05 and a 200-day moving average price of $0.72. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.58.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. As a group, sell-side analysts anticipate that Century Therapeutics will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other news, insider Chad Cowan purchased 58,060 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was acquired at an average cost of $0.85 per share, for a total transaction of $49,351.00. Following the purchase, the insider directly owned 1,045,087 shares in the company, valued at $888,323.95. This trade represents a 5.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brent Pfeiffenberger purchased 52,000 shares of Century Therapeutics stock in a transaction dated Friday, December 12th. The shares were acquired at an average cost of $0.58 per share, with a total value of $30,160.00. Following the transaction, the chief executive officer directly owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. The trade was a 1.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 145,060 shares of company stock valued at $97,011 and have sold 65,987 shares valued at $29,798. 4.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Century Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of Century Therapeutics by 26.9% during 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. GSA Capital Partners LLP raised its holdings in Century Therapeutics by 29.3% in the 3rd quarter. GSA Capital Partners LLP now owns 603,479 shares of the company’s stock worth $301,000 after purchasing an additional 136,873 shares during the period. Citadel Advisors LLC lifted its position in Century Therapeutics by 64.1% during the third quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock valued at $180,000 after purchasing an additional 140,891 shares in the last quarter. Two Sigma Investments LP grew its holdings in Century Therapeutics by 59.2% during the third quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after purchasing an additional 338,902 shares during the period. Finally, Squarepoint Ops LLC increased its position in Century Therapeutics by 483.1% in the third quarter. Squarepoint Ops LLC now owns 236,053 shares of the company’s stock worth $118,000 after buying an additional 195,573 shares in the last quarter. 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.