Century Therapeutics (NASDAQ:IPSC) Upgraded 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 research note released on Sunday.

Other equities analysts have also recently issued research reports about the company. 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 target price on Century Therapeutics and gave the stock a “market perform” rating in a research report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Century Therapeutics in a research report on Monday, April 6th. HC Wainwright boosted their target price on Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, TD Cowen assumed coverage on Century Therapeutics in a report on Wednesday, February 25th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.25.

Century Therapeutics Price Performance

Century Therapeutics stock opened at $2.31 on Friday. The business’s 50-day simple moving average is $2.32 and its 200 day simple moving average is $1.54. The stock has a market cap of $416.61 million, a price-to-earnings ratio of -16.50 and a beta of 1.55. Century Therapeutics has a 12-month low of $0.44 and a 12-month high of $3.04.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. As a group, sell-side analysts expect that Century Therapeutics will post -0.63 EPS for the current year.

Insider Buying and Selling at Century Therapeutics

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $2.55, for a total transaction of $25,693.80. Following the transaction, the insider owned 515,427 shares of the company’s stock, valued at $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 available through this link. Over the last quarter, insiders sold 17,921 shares of company stock worth $45,458. 4.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. acquired a new position in shares of Century Therapeutics during the 2nd quarter worth approximately $25,000. Qube Research & Technologies Ltd bought a new stake in Century Therapeutics in the 2nd quarter valued at $38,000. Raymond James Financial Inc. bought a new stake in Century Therapeutics in the 2nd quarter valued at $51,000. AQR Capital Management LLC lifted its position in shares of Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after acquiring an additional 86,875 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of 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 during the period. 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.