Century Therapeutics (NASDAQ:IPSC) Downgraded by Wall Street Zen to “Sell”

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

A number of other research firms also recently issued reports on IPSC. Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a research report on Monday, April 6th. Leerink Partners set a $2.00 target price on shares of Century Therapeutics and gave the stock a “market perform” rating in a research report on Friday, March 13th. Zacks Research downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. TD Cowen initiated coverage on shares of Century Therapeutics in a research report on Wednesday, February 25th. They issued a “buy” rating for the company. Finally, HC Wainwright increased their price objective on shares of Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.67.

Century Therapeutics Stock Performance

IPSC opened at $2.34 on Friday. The firm has a 50 day moving average price of $2.33 and a 200 day moving average price of $1.64. The company has a market cap of $422.02 million, a PE ratio of -2.05 and a beta of 1.55. Century Therapeutics has a 1 year low of $0.44 and a 1 year high of $3.04.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. On average, sell-side analysts predict that Century Therapeutics will post -0.62 earnings per share for the current year.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $2.55, for a total value of $25,693.80. Following the completion of the sale, the insider owned 515,427 shares of the company’s stock, valued at $1,314,338.85. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 17,862 shares of company stock valued at $45,488 over the last three months. 4.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in IPSC. Versant Venture Management LLC purchased a new position in shares of Century Therapeutics during the 1st quarter valued at approximately $27,495,000. Commodore Capital LP purchased a new position in shares of Century Therapeutics during the 1st quarter valued at approximately $19,652,000. Spruce Street Capital LP boosted its stake in shares of Century Therapeutics by 185.5% during the 1st quarter. Spruce Street Capital LP now owns 4,059,054 shares of the company’s stock valued at $9,173,000 after buying an additional 2,637,522 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Century Therapeutics during the 4th quarter valued at approximately $1,829,000. Finally, Jane Street Group LLC purchased a new position in shares of Century Therapeutics during the 2nd quarter valued at approximately $248,000. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

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.