Zacks Research Downgrades Century Therapeutics (NASDAQ:IPSC) to Hold

Century Therapeutics (NASDAQ:IPSC) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also commented on IPSC. Wall Street Zen upgraded shares of Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Leerink Partners set a $2.00 price objective on shares of Century Therapeutics and gave the stock a “market perform” rating in a research note on Friday. TD Cowen began coverage on Century Therapeutics in a report on Wednesday, February 25th. They set a “buy” rating for the company. Finally, Piper Sandler increased their target price on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Century Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $3.80.

Century Therapeutics Stock Down 6.4%

NASDAQ IPSC opened at $2.34 on Thursday. Century Therapeutics has a 52 week low of $0.34 and a 52 week high of $3.04. The company has a market capitalization of $204.52 million, a P/E ratio of -16.71 and a beta of 1.70. The stock’s 50-day moving average price is $2.08 and its 200-day moving average price is $1.11.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Thursday, March 12th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Research analysts anticipate that Century Therapeutics will post -1.61 EPS for the current year.

Insider Transactions at Century Therapeutics

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

Hedge Funds Weigh In On Century Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Century Therapeutics in the fourth quarter valued at about $1,829,000. Spruce Street Capital LP acquired a new position in Century Therapeutics during the fourth quarter worth about $1,414,000. Geode Capital Management LLC grew its stake in Century Therapeutics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock valued at $454,000 after acquiring an additional 10,806 shares in the last quarter. Citadel Advisors LLC lifted its stake in Century Therapeutics by 64.1% in the 3rd quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock worth $180,000 after purchasing an additional 140,891 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in Century Therapeutics by 59.2% during the third quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock worth $454,000 after buying an additional 338,902 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.