Mizuho Begins Coverage on Century Therapeutics (NASDAQ:IPSC)

Research analysts at Mizuho began coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a report issued on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $8.00 price target on the stock. Mizuho’s target price would indicate a potential upside of 268.66% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Wall Street Zen raised shares of Century Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. TD Cowen began coverage on Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Century Therapeutics in a report on Monday, April 6th. Zacks Research lowered Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Finally, HC Wainwright raised their target price on Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Century Therapeutics presently has a consensus rating of “Hold” and an average price target of $4.75.

Century Therapeutics Trading Down 4.0%

Shares of Century Therapeutics stock opened at $2.17 on Wednesday. The company’s fifty day simple moving average is $2.28 and its two-hundred day simple moving average is $1.73. The company has a market cap of $391.36 million, a P/E ratio of -1.90 and a beta of 1.55. Century Therapeutics has a 12-month low of $0.44 and a 12-month high of $3.04.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. Analysts predict that Century Therapeutics will post -0.44 EPS for the current fiscal year.

Insider Activity

In other news, insider Gregory Russotti sold 10,076 shares of the business’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 value of $25,693.80. Following the sale, the insider directly owned 515,427 shares of the company’s stock, valued at $1,314,338.85. The trade was a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 17,862 shares of company stock worth $45,488 in the last ninety days. 4.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Century Therapeutics

Institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. purchased a new stake in shares of Century Therapeutics during the second quarter valued at approximately $25,000. Bank of New York Mellon Corp purchased a new stake in Century Therapeutics during the first quarter valued at approximately $29,000. Qube Research & Technologies Ltd bought a new position in Century Therapeutics in the 2nd quarter worth $38,000. Quadrant Private Wealth Management LLC raised its stake in shares of Century Therapeutics by 31.0% in the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock worth $45,000 after buying an additional 4,736 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Century Therapeutics during the 2nd quarter worth approximately $51,000. 50.20% of the stock is owned by hedge funds and other institutional investors.

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.