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

TD Cowen began coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a report issued on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating on the stock.

Several other brokerages have also recently commented on IPSC. Leerink Partners cut shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Wall Street Zen cut Century Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 1st. Zacks Research raised Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. 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 report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3.80.

Century Therapeutics Stock Performance

NASDAQ IPSC opened at $2.18 on Wednesday. Century Therapeutics has a 52 week low of $0.34 and a 52 week high of $2.71. The stock’s 50 day moving average price is $1.72 and its two-hundred day moving average price is $0.95. The stock has a market capitalization of $190.53 million, a price-to-earnings ratio of -6.81 and a beta of 1.75.

Insider Activity

In other Century Therapeutics news, CEO Brent Pfeiffenberger acquired 52,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was bought at an average cost of $0.58 per share, with a total value of $30,160.00. Following the completion of the transaction, the chief executive officer directly owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. This represents a 1.59% increase in their position. The transaction 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 firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average cost of $0.85 per share, for a total transaction of $49,351.00. Following the completion of the acquisition, 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 position. The SEC filing for this purchase provides additional information. Insiders sold a total of 1,106 shares of company stock valued at $1,003 over the last quarter. 4.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Century Therapeutics

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