Century Therapeutics (NASDAQ:IPSC) Raised to “Hold” at Wall Street Zen

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

Several other equities analysts also recently weighed in on the company. TD Cowen assumed coverage on Century Therapeutics in a research report on Wednesday, February 25th. They issued a “buy” rating on the stock. Leerink Partners cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. Zacks Research raised Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler raised their price objective on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.80.

Century Therapeutics Stock Performance

IPSC stock opened at $2.56 on Friday. Century Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.71. The business’s 50-day moving average is $1.92 and its 200 day moving average is $1.04. The stock has a market cap of $223.74 million, a price-to-earnings ratio of -8.00 and a beta of 1.70.

Insider Buying and Selling at Century Therapeutics

In other news, CEO Brent Pfeiffenberger acquired 52,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average cost of $0.58 per share, for a total transaction of $30,160.00. Following the completion of the transaction, the chief executive officer owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. This trade represents a 1.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chad Cowan bought 58,060 shares of Century Therapeutics stock in a transaction 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 completion of the purchase, the insider directly owned 1,045,087 shares of the company’s stock, valued at $888,323.95. This trade represents a 5.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 1,106 shares of company stock worth $1,003. Insiders own 4.37% of the company’s stock.

Institutional Trading of Century Therapeutics

Several hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP raised its position in shares of Century Therapeutics by 59.2% during the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after buying an additional 338,902 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Century Therapeutics in the fourth quarter valued at approximately $1,829,000. Geode Capital Management LLC grew its position in Century Therapeutics by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock worth $454,000 after acquiring an additional 10,806 shares during the period. Citadel Advisors LLC grew its position in Century Therapeutics by 64.1% in the third quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock worth $180,000 after acquiring an additional 140,891 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Century Therapeutics by 101.2% during the first quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock worth $133,000 after acquiring an additional 142,953 shares during the last quarter. Hedge funds and other 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.