Century Therapeutics (NASDAQ:IPSC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Century Therapeutics (NASDAQ:IPSC) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other research firms have also recently commented on IPSC. 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 research note on Tuesday, January 20th. TD Cowen assumed coverage on shares of Century Therapeutics in a research note on Wednesday, February 25th. They set a “buy” rating on the stock. 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 raised shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.80.

Century Therapeutics Stock Performance

Shares of IPSC stock opened at $2.94 on Friday. Century Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.95. The firm has a market capitalization of $256.96 million, a price-to-earnings ratio of -9.19 and a beta of 1.70. The stock’s 50-day simple moving average is $1.96 and its 200-day simple moving average is $1.06.

Insider Buying and Selling

In other news, insider Chad Cowan bought 58,060 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 1,045,087 shares in the company, valued at approximately $888,323.95. This represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 price of $0.58 per share, for a total transaction of $30,160.00. Following the acquisition, the chief executive officer owned 3,322,990 shares in the company, valued at $1,927,334.20. This trade represents a 1.59% increase in their position. The disclosure for this purchase is available in the SEC filing. 4.37% of the stock is owned by corporate insiders.

Institutional Trading of Century Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. purchased a new position in shares of Century Therapeutics during the second quarter worth $25,000. Qube Research & Technologies Ltd purchased a new stake in Century Therapeutics in the second quarter valued at $38,000. Y Intercept Hong Kong Ltd purchased a new stake in Century Therapeutics in the second quarter valued at $50,000. Raymond James Financial Inc. acquired a new stake in Century Therapeutics during the 2nd quarter worth about $51,000. Finally, AQR Capital Management LLC grew 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 worth $53,000 after purchasing an additional 86,875 shares during the period. Institutional investors and hedge funds 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.