Brokerages Set Century Therapeutics, Inc. (NASDAQ:IPSC) PT at $3.80

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.80.

A number of research firms recently weighed in on IPSC. Wall Street Zen lowered shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 1st. Piper Sandler lifted their target price on shares of Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. TD Cowen began coverage on Century Therapeutics in a research note on Wednesday, February 25th. They set a “buy” rating on the stock. Zacks Research raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, Leerink Partners cut shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th.

Century Therapeutics Price Performance

Century Therapeutics stock opened at $2.43 on Monday. The firm has a 50-day moving average of $1.86 and a two-hundred day moving average of $1.01. The stock has a market cap of $212.38 million, a price-to-earnings ratio of -7.59 and a beta of 1.70. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.71.

Insider Activity at Century Therapeutics

In other news, insider Chad Cowan purchased 58,060 shares of the stock in a transaction dated Monday, December 22nd. The shares were purchased at an average cost of $0.85 per share, with a total value 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 approximately $888,323.95. The trade was a 5.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brent Pfeiffenberger bought 52,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were acquired at an average cost of $0.58 per share, with a total value of $30,160.00. Following the acquisition, the chief executive officer directly owned 3,322,990 shares of the company’s stock, valued at approximately $1,927,334.20. This represents a 1.59% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 1,106 shares of company stock valued at $1,003. Corporate insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. acquired a new position in shares of Century Therapeutics in the 4th quarter valued at $1,829,000. Spruce Street Capital LP purchased a new stake in shares of Century Therapeutics during the 4th quarter worth $1,414,000. Jane Street Group LLC acquired a new position in shares of Century Therapeutics during the 2nd quarter worth about $248,000. Two Sigma Investments LP boosted its holdings in Century Therapeutics by 59.2% in the third 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 in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Century Therapeutics by 483.1% in the 3rd quarter. Squarepoint Ops LLC now owns 236,053 shares of the company’s stock valued at $118,000 after buying an additional 195,573 shares during the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

Century Therapeutics Company Profile

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.