Century Therapeutics (NASDAQ:IPSC) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Century Therapeutics (NASDAQ:IPSC) from a strong-buy rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently weighed in on IPSC. Leerink Partners set a $2.00 price target on shares of Century Therapeutics and gave the company a “market perform” rating in a research report on Friday. Piper Sandler lifted their target price on Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Wall Street Zen raised Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, TD Cowen assumed coverage on Century Therapeutics in a research report on Wednesday, February 25th. They issued a “buy” rating for the company. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.80.

Century Therapeutics Price Performance

IPSC opened at $2.34 on Thursday. The stock has a market cap of $204.52 million, a P/E ratio of -16.71 and a beta of 1.70. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $3.04. The firm has a fifty day moving average price of $2.08 and a 200 day moving average price of $1.11.

Century Therapeutics (NASDAQ:IPSC) last issued its earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. Equities analysts expect that Century Therapeutics will post -1.61 EPS for the current year.

Insider Buying and Selling

In other Century Therapeutics news, insider Chad Cowan bought 58,060 shares of Century Therapeutics stock in a transaction dated Monday, December 22nd. The stock was acquired at an average cost of $0.85 per share, with a total value of $49,351.00. Following the completion of the acquisition, the insider owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. purchased a new stake in Century Therapeutics during the 4th quarter valued at approximately $1,829,000. Spruce Street Capital LP purchased a new position in shares of Century Therapeutics in the 4th quarter valued at approximately $1,414,000. Two Sigma Investments LP grew its stake in shares of Century Therapeutics by 59.2% in the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after purchasing an additional 338,902 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Century Therapeutics by 29.3% in the third quarter. GSA Capital Partners LLP now owns 603,479 shares of the company’s stock valued at $301,000 after purchasing an additional 136,873 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Century Therapeutics by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock valued at $454,000 after purchasing an additional 10,806 shares during the period. 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.