Century Therapeutics (NASDAQ:IPSC) Upgraded at Zacks Research

Zacks Research upgraded shares of Century Therapeutics (NASDAQ:IPSC) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Leerink Partnrs downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Century Therapeutics in a research report on Wednesday, October 8th. Leerink Partners reaffirmed a “market perform” rating and set a $2.00 price objective (down previously from $7.00) on shares of Century Therapeutics in a research report on Monday, November 17th. Finally, Wall Street Zen lowered shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Century Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $3.40.

Century Therapeutics Stock Performance

Shares of Century Therapeutics stock opened at $1.77 on Tuesday. The firm has a market cap of $154.70 million, a PE ratio of -5.53 and a beta of 1.72. The firm’s 50-day simple moving average is $0.70 and its 200-day simple moving average is $0.60. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $1.88.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. On average, equities analysts predict that Century Therapeutics will post -1.61 earnings per share for the current year.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Chad Cowan bought 58,060 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average cost of $0.85 per share, for a total transaction of $49,351.00. Following the transaction, the insider directly owned 1,045,087 shares in the company, valued at $888,323.95. The trade was a 5.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brent Pfeiffenberger bought 52,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were acquired at an average cost 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. This represents a 1.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 145,060 shares of company stock valued at $97,011 and have sold 65,987 shares valued at $29,798. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. bought a new position in Century Therapeutics in the 2nd quarter valued at about $25,000. Qube Research & Technologies Ltd bought a new position in shares of Century Therapeutics in the second quarter valued at approximately $38,000. Y Intercept Hong Kong Ltd bought a new position in shares of Century Therapeutics in the second quarter valued at approximately $50,000. Raymond James Financial Inc. acquired a new position in shares of Century Therapeutics during the second quarter valued at approximately $51,000. Finally, AQR Capital Management LLC raised its holdings in Century Therapeutics by 358.9% during the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after purchasing an additional 86,875 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors.

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.