Century Therapeutics, Inc. (NASDAQ:IPSC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $3.50.

A number of equities analysts recently issued reports on IPSC shares. Zacks Research cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Leerink Partners set a $2.00 price target on shares of Century Therapeutics and gave the company a “market perform” rating in a research note on Friday, March 13th. TD Cowen began coverage on shares of Century Therapeutics in a report on Wednesday, February 25th. They set a “buy” rating on the stock. Wall Street Zen raised shares of Century Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Piper Sandler boosted their target price on shares of Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th.

Century Therapeutics Trading Down 2.7%

IPSC stock traded down $0.06 during trading on Friday, reaching $2.00. 108,593 shares of the stock were exchanged, compared to its average volume of 1,863,007. The firm’s 50 day moving average is $2.19 and its 200 day moving average is $1.22. Century Therapeutics has a twelve month low of $0.34 and a twelve month high of $3.04. The firm has a market cap of $360.16 million, a P/E ratio of -14.17 and a beta of 1.70.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. As a group, analysts predict that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of Century Therapeutics stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $2.55, for a total transaction of $25,693.80. Following the completion of the transaction, the insider owned 515,427 shares in the company, valued at approximately $1,314,338.85. The trade was a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 17,921 shares of company stock worth $45,458. 4.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IPSC. Prudential Financial Inc. bought a new position in shares of Century Therapeutics in the second quarter valued at approximately $25,000. Qube Research & Technologies Ltd bought a new stake in Century Therapeutics during the second quarter worth $38,000. Raymond James Financial Inc. purchased a new stake in Century Therapeutics in the 2nd quarter valued at $51,000. AQR Capital Management LLC raised its position in Century Therapeutics by 358.9% in the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after buying an additional 86,875 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Century Therapeutics by 109.1% during the 4th 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 in the last quarter. 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.