Century Therapeutics, Inc. (NASDAQ:IPSC) Receives Consensus Recommendation of “Hold” from Analysts

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.75.

IPSC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Century Therapeutics in a research report on Thursday, July 2nd. HC Wainwright lifted their price target on Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Wall Street Zen cut Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Mizuho assumed coverage on Century Therapeutics in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price objective for the company.

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. Versant Venture Management LLC purchased a new stake in Century Therapeutics during the first quarter worth about $27,495,000. Commodore Capital LP bought a new stake in Century Therapeutics in the first quarter worth about $19,652,000. Seven Fleet Capital Management LP purchased a new position in Century Therapeutics in the first quarter valued at about $9,826,000. Spruce Street Capital LP boosted its stake in Century Therapeutics by 185.5% in the first quarter. Spruce Street Capital LP now owns 4,059,054 shares of the company’s stock valued at $9,173,000 after acquiring an additional 2,637,522 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Century Therapeutics in the fourth quarter valued at about $1,829,000. 50.20% of the stock is owned by hedge funds and other institutional investors.

Century Therapeutics Stock Performance

Century Therapeutics stock opened at $1.96 on Thursday. Century Therapeutics has a fifty-two week low of $0.44 and a fifty-two week high of $3.04. The firm’s 50-day simple moving average is $2.23 and its 200 day simple moving average is $2.23. The stock has a market cap of $353.49 million, a PE ratio of -1.72 and a beta of 1.57.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. As a group, analysts predict that Century Therapeutics will post -0.43 EPS for the current fiscal 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.