Century Therapeutics (NASDAQ:IPSC) Shares Gap Up to $16.36

Century Therapeutics, Inc. (NASDAQ:IPSC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $16.36, but opened at $16.86. Century Therapeutics shares last traded at $17.08, with a volume of 1,373 shares changing hands.

Several equities analysts have weighed in on IPSC shares. Zacks Investment Research raised Century Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday. SVB Leerink reissued a “buy” rating on shares of Century Therapeutics in a research note on Sunday, August 15th. Bank of America started coverage on Century Therapeutics in a research note on Tuesday, July 13th. They issued a “buy” rating and a $34.00 target price on the stock. JPMorgan Chase & Co. started coverage on Century Therapeutics in a research note on Tuesday, July 13th. They issued an “overweight” rating and a $40.00 target price on the stock. Finally, Piper Sandler started coverage on Century Therapeutics in a research note on Tuesday, July 13th. They issued an “overweight” rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $36.25.

The company has a quick ratio of 18.97, a current ratio of 18.97 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $25.33.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Thursday, August 12th. The company reported ($1.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($1.53). On average, equities research analysts predict that Century Therapeutics, Inc. will post -3 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Century Therapeutics during the second quarter worth about $1,548,000. Marshall Wace North America L.P. bought a new position in shares of Century Therapeutics during the second quarter worth about $7,254,000. Morgan Stanley bought a new position in shares of Century Therapeutics during the second quarter worth about $9,865,000. Woodline Partners LP bought a new position in shares of Century Therapeutics during the second quarter worth about $8,266,000. Finally, Sphera Funds Management LTD. bought a new position in shares of Century Therapeutics during the second quarter worth about $2,347,000. Institutional investors and hedge funds own 30.46% of the company’s stock.

Century Therapeutics Company Profile (NASDAQ:IPSC)

Century Therapeutics, Inc, a biotechnology company, develops transformative allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. The company's lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy targeting CD19 for relapsed, refractory B-cell lymphoma.

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