Century Therapeutics, Inc. (NASDAQ:IPSC) Receives $3.80 Average PT from Brokerages

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.80.

Several equities research analysts have weighed in on the stock. Leerink Partners downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Zacks Research raised Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Wall Street Zen lowered Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 1st. Finally, Piper Sandler increased their price target on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th.

Century Therapeutics Price Performance

Shares of NASDAQ IPSC opened at $1.70 on Thursday. Century Therapeutics has a 1-year low of $0.34 and a 1-year high of $2.71. The business has a fifty day moving average price of $1.36 and a 200 day moving average price of $0.82. The stock has a market capitalization of $148.58 million, a P/E ratio of -5.31 and a beta of 1.75.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. As a group, equities research analysts anticipate that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brent Pfeiffenberger bought 52,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was bought 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 of the company’s stock, valued at approximately $1,927,334.20. This trade represents a 1.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chad Cowan bought 58,060 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $0.85 per share, for a total transaction of $49,351.00. Following the transaction, the insider owned 1,045,087 shares in the company, valued at $888,323.95. The trade was a 5.88% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 145,060 shares of company stock valued at $97,011 and sold 66,018 shares valued at $30,213. 4.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Century Therapeutics

A number of large investors have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new position in Century Therapeutics in the 2nd quarter worth $25,000. Bank of America Corp DE grew its stake in Century Therapeutics by 109.1% during the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after purchasing an additional 34,466 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Century Therapeutics during the 2nd quarter valued at about $38,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Century Therapeutics in the second quarter valued at about $50,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Century Therapeutics in the second quarter worth about $51,000. 50.20% of the stock is owned by hedge funds and other 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.