Brokerages Set Century Therapeutics, Inc. (NASDAQ:IPSC) PT at $3.50

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.50.

Several research firms recently commented on IPSC. Zacks Research cut shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Wall Street Zen upgraded Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. TD Cowen began coverage on Century Therapeutics in a report on Wednesday, February 25th. They issued a “buy” rating on the stock. Piper Sandler upped their price objective on Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, Leerink Partners set a $2.00 price objective on Century Therapeutics and gave the stock a “market perform” rating in a report on Friday, March 13th.

Insiders Place Their Bets

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $2.55, for a total transaction of $25,693.80. Following the completion of the transaction, the insider owned 515,427 shares of the company’s stock, valued at $1,314,338.85. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 17,921 shares of company stock worth $45,458. Corporate insiders own 4.37% of the company’s stock.

Institutional Trading of Century Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of Century Therapeutics by 109.1% in 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. AQR Capital Management LLC grew its position in 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 purchasing an additional 86,875 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 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. Acadian Asset Management LLC increased its stake in Century Therapeutics by 101.2% in the 1st quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock valued at $133,000 after buying an additional 142,953 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Century Therapeutics in the 2nd quarter valued at $25,000. 50.20% of the stock is currently owned by institutional investors and hedge funds.

Century Therapeutics Stock Performance

Shares of IPSC stock opened at $2.02 on Friday. Century Therapeutics has a 52 week low of $0.34 and a 52 week high of $3.04. The company’s 50 day moving average price is $2.19 and its two-hundred day moving average price is $1.24. The company has a market capitalization of $363.03 million, a P/E ratio of -14.43 and a beta of 1.70.

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

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.