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

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment 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 target price among analysts that have covered the stock in the last year is $4.00.

IPSC has been the topic of a number of research analyst reports. TD Cowen assumed coverage on Century Therapeutics in a report on Wednesday, February 25th. They issued a “buy” rating on the stock. 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 report on Tuesday. Leerink Partners set a $2.00 price objective on shares of Century Therapeutics and gave the company a “market perform” rating in a research report on Friday, March 13th. Piper Sandler boosted their target price on shares of Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Wall Street Zen upgraded shares of Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th.

Century Therapeutics Stock Performance

Shares of Century Therapeutics stock opened at $2.34 on Tuesday. The company has a fifty day moving average of $2.26 and a 200 day moving average of $1.44. The company has a market capitalization of $421.34 million, a P/E ratio of -16.71 and a beta of 1.66. Century Therapeutics has a fifty-two week low of $0.44 and a fifty-two week high of $3.04.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. Analysts forecast that Century Therapeutics will post -0.44 EPS for the current year.

Insider Activity

In related news, insider Gregory Russotti sold 10,076 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $2.55, for a total value of $25,693.80. Following the sale, the insider directly owned 515,427 shares in the company, valued at approximately $1,314,338.85. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 17,921 shares of company stock valued at $45,458 over the last quarter. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

Several large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. bought a new stake in shares of Century Therapeutics in the 4th quarter worth about $1,829,000. Spruce Street Capital LP purchased a new position in shares of Century Therapeutics in the 4th quarter worth approximately $1,414,000. Two Sigma Investments LP increased its position in shares of Century Therapeutics by 59.2% during the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after purchasing an additional 338,902 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Century Therapeutics by 29.3% during the 3rd quarter. GSA Capital Partners LLP now owns 603,479 shares of the company’s stock valued at $301,000 after buying an additional 136,873 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Century Therapeutics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock valued at $454,000 after buying an additional 10,806 shares during the period. Institutional investors 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.