Century Therapeutics, Inc. (NASDAQ:IPSC) Given Average Rating of “Hold” by Analysts

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $3.6667.

A number of research firms have weighed in on IPSC. HC Wainwright raised their price objective on shares of Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Zacks Research cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Leerink Partners set a $2.00 target price on Century Therapeutics and gave the company a “market perform” rating in a research report on Friday, March 13th. Piper Sandler lifted their target price on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen cut Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday.

Insider Activity

In related news, insider Gregory Russotti sold 10,076 shares of Century Therapeutics 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 17,862 shares of company stock worth $45,488 over the last 90 days. 4.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Quadrant Private Wealth Management LLC boosted its position in shares of Century Therapeutics by 31.0% during the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock valued at $45,000 after buying an additional 4,736 shares during the last quarter. Geode Capital Management LLC boosted its position in Century Therapeutics by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock worth $454,000 after purchasing an additional 10,806 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Century Therapeutics in the first quarter worth $29,000. Bank of America Corp DE boosted its position in Century Therapeutics by 109.1% in the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after purchasing an additional 34,466 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Century Therapeutics by 26.9% in the first quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock worth $86,000 after purchasing an additional 38,052 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Stock Performance

IPSC stock opened at $2.34 on Friday. The company has a market cap of $422.03 million, a P/E ratio of -2.05 and a beta of 1.55. Century Therapeutics has a fifty-two week low of $0.44 and a fifty-two week high of $3.04. The stock’s 50 day simple moving average is $2.33 and its 200 day simple moving average is $1.64.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. Equities analysts predict that Century Therapeutics will post -0.63 earnings per share for the current year.

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.