Century Therapeutics (NASDAQ:IPSC) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Century Therapeutics (NASDAQ:IPSC) from a hold rating to a sell rating in a report issued on Sunday.

Several other brokerages have also issued reports on IPSC. Piper Sandler lifted their price target on Century Therapeutics from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Zacks Research raised Century Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Century Therapeutics in a research note on Wednesday, October 8th. Finally, Leerink Partners cut shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.80.

Century Therapeutics Stock Performance

Shares of NASDAQ IPSC opened at $1.84 on Friday. Century Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.71. The stock has a market cap of $160.82 million, a PE ratio of -5.75 and a beta of 1.75. The stock has a fifty day moving average of $1.29 and a 200-day moving average of $0.80.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data 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. On average, sell-side analysts predict that Century Therapeutics will post -1.61 EPS for the current year.

Insider Buying and Selling

In other news, insider Chad Cowan bought 58,060 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were purchased at an average price of $0.85 per share, for a total transaction of $49,351.00. Following the completion of the acquisition, the insider owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This trade represents a 5.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brent Pfeiffenberger bought 52,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased 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 of the company’s stock, valued at $1,927,334.20. This trade represents a 1.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 145,060 shares of company stock valued at $97,011 and have sold 65,695 shares valued at $29,625. Corporate insiders own 4.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of 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 purchasing an additional 34,466 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Century Therapeutics by 26.9% during the first quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after purchasing an additional 38,052 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Century Therapeutics in the 2nd quarter worth approximately $25,000. Qube Research & Technologies Ltd purchased a new stake in shares of Century Therapeutics in the 2nd quarter worth approximately $38,000. Finally, AQR Capital Management LLC increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

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.