Century Therapeutics (NASDAQ:IPSC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Century Therapeutics (NASDAQ:IPSC) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

A number of other research firms have also recently weighed in on IPSC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research note on Thursday, July 2nd. Mizuho initiated coverage on Century Therapeutics in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Century Therapeutics presently has an average rating of “Hold” and an average target price of $4.75.

Century Therapeutics Price Performance

Century Therapeutics stock opened at $1.94 on Friday. The stock has a market cap of $351.28 million, a PE ratio of -2.09 and a beta of 1.59. Century Therapeutics has a 12-month low of $0.43 and a 12-month high of $3.04. The business’s 50-day moving average price is $2.10 and its two-hundred day moving average price is $2.23.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.17) earnings per share 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 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in Century Therapeutics by 109.1% in the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after acquiring an additional 34,466 shares during the last quarter. AQR Capital Management LLC raised its holdings in Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after purchasing an additional 86,875 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in 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 purchasing an additional 38,052 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of 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 purchasing an additional 142,953 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of Century Therapeutics in the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

About Century Therapeutics

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.