Brokerages Set Century Therapeutics, Inc. (NASDAQ:IPSC) Price Target at $3.40

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $3.40.

IPSC has been the topic of several recent research reports. Leerink Partners reaffirmed a “market perform” rating and issued a $2.00 price target (down previously from $7.00) on shares of Century Therapeutics in a research report on Monday, November 17th. Wall Street Zen lowered Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, October 20th. Leerink Partnrs lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Century Therapeutics in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th.

Insider Transactions at Century Therapeutics

In related news, CEO Brent Pfeiffenberger purchased 52,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $0.58 per share, for a total transaction of $30,160.00. Following the purchase, the chief executive officer directly owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. This trade represents a 1.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chad Cowan acquired 58,060 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average price of $0.85 per share, for a total transaction of $49,351.00. Following the purchase, the insider owned 1,045,087 shares of the company’s stock, valued at $888,323.95. The trade was a 5.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 145,060 shares of company stock valued at $97,011 and have sold 65,987 shares valued at $29,798. Company insiders own 4.37% of the company’s stock.

Institutional Trading of Century Therapeutics

Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. bought a new position in shares of Century Therapeutics during the 2nd quarter worth $25,000. Bank of America Corp DE grew its stake in Century Therapeutics by 109.1% in the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after buying an additional 34,466 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Century Therapeutics in the 2nd quarter valued at approximately $38,000. Y Intercept Hong Kong Ltd bought a new stake in Century Therapeutics during the 2nd quarter valued at $50,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Century Therapeutics during the second quarter worth $51,000. 50.20% of the stock is currently owned by institutional investors.

Century Therapeutics Stock Performance

IPSC stock opened at $2.17 on Friday. The stock’s 50 day simple moving average is $0.89 and its 200 day simple moving average is $0.67. The company has a market cap of $189.66 million, a P/E ratio of -6.78 and a beta of 1.72. Century Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.32.

Century Therapeutics (NASDAQ:IPSC) last issued its earnings results on Thursday, November 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Equities analysts predict 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.