Brokerages Set Century Therapeutics, Inc. (NASDAQ:IPSC) Target Price at $14.17

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given an average recommendation of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $13.60.

Several research firms have recently weighed in on IPSC. Piper Sandler reiterated an “overweight” rating and set a $9.00 price target (down previously from $10.00) on shares of Century Therapeutics in a research note on Friday, April 12th. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Century Therapeutics in a research report on Friday, March 15th. Finally, Canaccord Genuity Group raised their price target on Century Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

Insider Transactions at Century Therapeutics

In other news, insider Adrienne Farid sold 22,831 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $5.14, for a total value of $117,351.34. Following the completion of the transaction, the insider now owns 114,149 shares in the company, valued at approximately $586,725.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 25,509 shares of company stock worth $127,635. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IPSC. Vanguard Group Inc. raised its stake in shares of Century Therapeutics by 49.6% in the first quarter. Vanguard Group Inc. now owns 819,762 shares of the company’s stock worth $10,320,000 after purchasing an additional 271,760 shares during the last quarter. Avidity Partners Management LP increased its position in Century Therapeutics by 23.4% in the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock worth $4,499,000 after buying an additional 256,500 shares in the last quarter. BlackRock Inc. increased its position in Century Therapeutics by 14.4% in the second quarter. BlackRock Inc. now owns 1,615,174 shares of the company’s stock worth $5,104,000 after buying an additional 203,725 shares in the last quarter. Millennium Management LLC grew its position in shares of Century Therapeutics by 239.0% during the fourth quarter. Millennium Management LLC now owns 228,858 shares of the company’s stock worth $1,174,000 after purchasing an additional 161,345 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Century Therapeutics during the fourth quarter worth about $539,000. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Trading Down 14.4 %

Shares of Century Therapeutics stock opened at $3.14 on Friday. The stock has a fifty day simple moving average of $4.28 and a 200 day simple moving average of $3.09. Century Therapeutics has a 12-month low of $1.28 and a 12-month high of $5.51. The company has a market capitalization of $203.53 million, a P/E ratio of -1.37 and a beta of 1.33.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.07. The firm had revenue of $0.27 million during the quarter, compared to the consensus estimate of $1.69 million. Century Therapeutics had a negative return on equity of 54.73% and a negative net margin of 6,115.12%. On average, analysts predict that Century Therapeutics will post -2.02 EPS for the current year.

About Century Therapeutics

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.