Brokerages Set Century Therapeutics, Inc. (NASDAQ:IPSC) PT at $3.50

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $4.00.

A number of analysts have issued reports on IPSC shares. Leerink Partners set a $2.00 price objective on shares of Century Therapeutics and gave the company a “market perform” rating in a report on Friday, March 13th. Piper Sandler lifted their price target on shares of Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. TD Cowen initiated coverage on Century Therapeutics in a research note on Wednesday, February 25th. They issued a “buy” rating for the company. Wall Street Zen raised Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Zacks Research lowered Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th.

Insider Activity at Century Therapeutics

In related news, insider Gregory Russotti sold 10,076 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $2.55, for a total value of $25,693.80. Following the transaction, the insider owned 515,427 shares in the company, valued at approximately $1,314,338.85. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 17,921 shares of company stock valued at $45,458 in the last quarter. 4.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Century Therapeutics

A number of large investors have recently bought and sold shares of the company. Prudential Financial Inc. acquired a new position in shares of Century Therapeutics in the 2nd quarter valued at approximately $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. Raymond James Financial Inc. bought a new position in Century Therapeutics in the second quarter valued at approximately $51,000. Finally, AQR Capital Management LLC increased its stake in Century Therapeutics by 358.9% in the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after acquiring an additional 86,875 shares during the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

Century Therapeutics Price Performance

IPSC stock opened at $2.13 on Friday. Century Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $3.04. The stock has a market capitalization of $382.81 million, a price-to-earnings ratio of -15.21 and a beta of 1.66. The business’s fifty day moving average price is $2.19 and its two-hundred day moving average price is $1.28.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. Research analysts expect that Century Therapeutics will post -1.61 EPS for the current year.

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.