Wall Street Zen Upgrades Century Therapeutics (NASDAQ:IPSC) to “Hold”

Century Therapeutics (NASDAQ:IPSC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts have also weighed in on the company. TD Cowen initiated coverage on Century Therapeutics in a report on Wednesday, February 25th. They issued a “buy” rating on the stock. Piper Sandler upped 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. Leerink Partners downgraded shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Finally, Zacks Research upgraded shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.80.

Century Therapeutics Price Performance

Shares of NASDAQ:IPSC opened at $2.56 on Friday. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.71. The firm has a market capitalization of $223.74 million, a PE ratio of -8.00 and a beta of 1.70. The business’s 50 day moving average price is $1.92 and its 200-day moving average price is $1.04.

Insiders Place Their Bets

In related news, CEO Brent Pfeiffenberger bought 52,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was bought at an average cost of $0.58 per share, for a total transaction of $30,160.00. Following the acquisition, the chief executive officer directly owned 3,322,990 shares in the company, valued at $1,927,334.20. This represents a 1.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chad Cowan bought 58,060 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was bought at an average cost of $0.85 per share, with a total value of $49,351.00. Following the completion of the purchase, the insider directly owned 1,045,087 shares in the company, valued at approximately $888,323.95. The trade was a 5.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Century Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of IPSC. Prudential Financial Inc. purchased a new position in Century Therapeutics during the second quarter worth about $25,000. 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 acquired a new stake in shares of Century Therapeutics during the 2nd quarter worth approximately $50,000. Raymond James Financial Inc. purchased a new stake in shares of Century Therapeutics during the 2nd quarter valued at approximately $51,000. Finally, AQR Capital Management LLC raised its position in shares of Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after buying an additional 86,875 shares during the period. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.