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

Century Therapeutics, Inc. (NASDAQ:IPSC) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.60.

A number of research firms recently weighed in on IPSC. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Century Therapeutics in a report on Friday, March 15th. Canaccord Genuity Group upped their target price on Century Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $9.00 price target (down previously from $10.00) on shares of Century Therapeutics in a research note on Friday, April 12th.

Century Therapeutics Trading Up 4.8 %

Shares of IPSC opened at $2.98 on Friday. The stock has a fifty day moving average price of $4.21 and a 200-day moving average price of $3.08. Century Therapeutics has a 12 month low of $1.28 and a 12 month high of $5.51. The firm has a market cap of $192.84 million, a PE ratio of -1.30 and a beta of 1.33.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.07. The firm had revenue of $0.27 million during the quarter, compared to analyst estimates of $1.69 million. Century Therapeutics had a negative net margin of 6,115.12% and a negative return on equity of 54.73%. As a group, research analysts forecast that Century Therapeutics will post -1.94 EPS for the current year.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Adrienne Farid sold 22,831 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $5.14, for a total value of $117,351.34. Following the completion of the sale, the insider now owns 114,149 shares in the company, valued at approximately $586,725.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 25,509 shares of company stock valued at $127,635. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Century Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of Century Therapeutics by 91.0% in the second quarter. Rhumbline Advisers now owns 28,578 shares of the company’s stock valued at $240,000 after purchasing an additional 13,617 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Century Therapeutics by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 65,356 shares of the company’s stock valued at $548,000 after acquiring an additional 6,237 shares in the last quarter. Bank of America Corp DE boosted its holdings in Century Therapeutics by 11.3% in the first quarter. Bank of America Corp DE now owns 45,755 shares of the company’s stock valued at $575,000 after purchasing an additional 4,629 shares during the period. Goldman Sachs Group Inc. grew its stake in Century Therapeutics by 11.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,746 shares of the company’s stock worth $261,000 after purchasing an additional 2,091 shares in the last quarter. Finally, State Street Corp increased its holdings in Century Therapeutics by 18.0% during the 1st quarter. State Street Corp now owns 222,033 shares of the company’s stock worth $2,795,000 after purchasing an additional 33,885 shares during the period. 50.20% of the stock is owned by institutional investors and hedge funds.

Century Therapeutics Company Profile

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.