Century Therapeutics (NASDAQ:IPSC) Coverage Initiated by Analysts at Mizuho

Mizuho assumed coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set an “outperform” rating and a $8.00 price target on the stock. Mizuho’s price objective points to a potential upside of 268.66% from the stock’s previous close.

IPSC has been the topic of a number of other research reports. Zacks Research lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Wall Street Zen raised shares of Century Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday. HC Wainwright boosted their price objective on shares of Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Leerink Partners set a $2.00 price objective on shares of Century Therapeutics and gave the company a “market perform” rating in a research note on Friday, March 13th. Finally, TD Cowen began coverage on shares of Century Therapeutics in a report on Wednesday, February 25th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.75.

Century Therapeutics Trading Down 4.0%

Century Therapeutics stock opened at $2.17 on Wednesday. Century Therapeutics has a 12 month low of $0.44 and a 12 month high of $3.04. The business’s 50 day simple moving average is $2.28 and its 200 day simple moving average is $1.73. The company has a market cap of $391.36 million, a price-to-earnings ratio of -1.90 and a beta of 1.55.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. As a group, equities research analysts forecast that Century Therapeutics will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Century Therapeutics

In related news, insider Gregory Russotti sold 10,076 shares of Century Therapeutics stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $2.55, for a total value of $25,693.80. Following the transaction, the insider directly 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 through this link. Insiders have sold 17,862 shares of company stock valued at $45,488 over the last quarter. 4.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Century Therapeutics

A number of large investors have recently added to or reduced their stakes in IPSC. Versant Venture Management LLC bought a new position in shares of Century Therapeutics during the first quarter valued at about $27,495,000. Quadrant Private Wealth Management LLC grew its stake in shares of Century Therapeutics by 31.0% in the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock worth $45,000 after purchasing an additional 4,736 shares during the last quarter. Spruce Street Capital LP grew its stake in shares of Century Therapeutics by 185.5% in the first 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 last quarter. Commodore Capital LP purchased a new position in Century Therapeutics during the 1st quarter valued at about $19,652,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Century Therapeutics during the 1st quarter valued at approximately $108,000. 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.