Century Therapeutics (NASDAQ:IPSC) Stock Rating Upgraded by Wall Street Zen

Century Therapeutics (NASDAQ:IPSC) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

IPSC has been the topic of several other research reports. Leerink Partners lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Century Therapeutics in a report on Wednesday, October 8th. Zacks Research raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler increased their price target on shares of Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.80.

Century Therapeutics Stock Up 4.8%

Century Therapeutics stock opened at $2.42 on Friday. The business has a 50 day moving average price of $1.05 and a two-hundred day moving average price of $0.72. Century Therapeutics has a 12 month low of $0.34 and a 12 month high of $2.58. The stock has a market cap of $211.51 million, a price-to-earnings ratio of -7.56 and a beta of 1.72.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. On average, analysts expect that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Century Therapeutics

In related news, insider Chad Cowan purchased 58,060 shares of Century Therapeutics stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price 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 approximately $888,323.95. This represents a 5.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brent Pfeiffenberger acquired 52,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were bought at an average cost of $0.58 per share, for a total transaction of $30,160.00. Following the acquisition, the chief executive officer owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. The trade was a 1.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 145,060 shares of company stock worth $97,011 and have sold 65,987 shares worth $29,798. 4.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Century Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Century Therapeutics by 109.1% during 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Century Therapeutics by 26.9% in the first quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after purchasing an additional 38,052 shares in the last quarter. Prudential Financial Inc. bought a new position in Century Therapeutics in the 2nd quarter worth approximately $25,000. Qube Research & Technologies Ltd acquired a new position in Century Therapeutics during the 2nd quarter worth $38,000. Finally, AQR Capital Management LLC lifted its holdings in Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after buying an additional 86,875 shares in the last quarter. 50.20% of the stock is owned by institutional investors.

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.