Century Therapeutics (NASDAQ:IPSC) Now Covered by Analysts at TD Cowen

Analysts at TD Cowen assumed coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a report released on Wednesday. The firm set a “buy” rating on the stock.

IPSC has been the topic of a number of other reports. Leerink Partners lowered Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Wall Street Zen cut shares of Century Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 1st. Zacks Research raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, 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 report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.80.

Century Therapeutics Trading Up 4.9%

NASDAQ IPSC opened at $2.13 on Wednesday. The firm’s fifty day moving average price is $1.69 and its two-hundred day moving average price is $0.94. The firm has a market capitalization of $186.16 million, a P/E ratio of -6.66 and a beta of 1.75. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.71.

Insider Buying and Selling

In related news, CEO Brent Pfeiffenberger purchased 52,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average cost of $0.58 per share, for a total transaction of $30,160.00. Following the completion of the purchase, the chief executive officer owned 3,322,990 shares in the company, valued at approximately $1,927,334.20. This represents a 1.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chad Cowan acquired 58,060 shares of the stock in a transaction on Monday, December 22nd. The shares were bought 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 in the company, valued at approximately $888,323.95. This trade represents a 5.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 1,106 shares of company stock valued at $1,003. 4.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Century Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. bought a new position in Century Therapeutics in the 2nd quarter valued at about $25,000. Bank of America Corp DE boosted its position in shares of Century Therapeutics by 109.1% during the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after acquiring an additional 34,466 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Century Therapeutics during the 2nd quarter worth approximately $38,000. Y Intercept Hong Kong Ltd bought a new position in Century Therapeutics in the second quarter valued at approximately $50,000. Finally, Raymond James Financial Inc. acquired a new position in Century Therapeutics during the second quarter valued at approximately $51,000. Institutional investors own 50.20% of the company’s stock.

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.