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

Century Therapeutics, Inc. (NASDAQ:IPSC) has earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $4.75.

Several research firms recently issued reports on IPSC. HC Wainwright boosted their price target on Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Mizuho assumed coverage on shares of Century Therapeutics in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research report on Thursday, July 2nd. Finally, Wall Street Zen lowered shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th.

Institutional Investors Weigh In On Century Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Versant Venture Management LLC purchased a new position in shares of Century Therapeutics in the first quarter valued at $27,495,000. Commodore Capital LP purchased a new stake in Century Therapeutics during the 1st quarter worth about $19,652,000. Seven Fleet Capital Management LP bought a new position in Century Therapeutics in the 1st quarter worth about $9,826,000. Spruce Street Capital LP boosted its stake in Century Therapeutics by 185.5% in the 1st quarter. Spruce Street Capital LP now owns 4,059,054 shares of the company’s stock worth $9,173,000 after purchasing an additional 2,637,522 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Century Therapeutics during the 4th quarter valued at about $1,829,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Stock Up 5.2%

Shares of IPSC traded up $0.10 during trading hours on Thursday, hitting $2.12. The company had a trading volume of 57,771 shares, compared to its average volume of 1,493,241. The business has a fifty day moving average of $2.25 and a 200-day moving average of $2.23. The firm has a market cap of $383.24 million, a price-to-earnings ratio of -1.86 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 announced its earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. On average, equities analysts expect that Century Therapeutics will post -0.43 EPS for the current fiscal year.

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.