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

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.80.

IPSC has been the topic of several research reports. Zacks Research upgraded Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. TD Cowen assumed coverage on Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating for the company. Piper Sandler upped 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. Leerink Partners lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Finally, Wall Street Zen cut shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 1st.

Insider Activity at Century Therapeutics

In related news, insider Chad Cowan purchased 58,060 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were purchased at an average cost of $0.85 per share, with a total value of $49,351.00. Following the transaction, the insider directly owned 1,045,087 shares in the company, valued at $888,323.95. This trade represents a 5.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brent Pfeiffenberger purchased 52,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average price of $0.58 per share, for a total transaction of $30,160.00. Following the purchase, the chief executive officer directly owned 3,322,990 shares in the company, valued at $1,927,334.20. The trade was a 1.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 1,106 shares of company stock valued at $1,003 over the last quarter. Company insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

Large investors have recently modified their holdings of the stock. Prudential Financial Inc. bought a new position in Century Therapeutics in the 2nd quarter worth about $25,000. Qube Research & Technologies Ltd purchased a new position in Century Therapeutics in the second quarter worth about $38,000. Y Intercept Hong Kong Ltd bought a new position in shares of Century Therapeutics in the second quarter worth approximately $50,000. Raymond James Financial Inc. bought a new position in shares of Century Therapeutics in the second quarter worth approximately $51,000. Finally, AQR Capital Management LLC grew its holdings in shares of Century Therapeutics by 358.9% during the first 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. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Stock Performance

Century Therapeutics stock opened at $2.30 on Monday. Century Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.71. The stock’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $0.98. The stock has a market cap of $200.58 million, a price-to-earnings ratio of -7.20 and a beta of 1.70.

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.