Century Therapeutics, Inc. (NASDAQ:IPSC) Given Consensus Recommendation of “Hold” by Analysts

Century Therapeutics, Inc. (NASDAQ:IPSC) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $3.6667.

A number of analysts have recently weighed in on IPSC shares. Leerink Partners set a $2.00 price objective on shares of Century Therapeutics and gave the stock a “market perform” rating in a research note on Friday, March 13th. TD Cowen initiated coverage on shares of Century Therapeutics in a report on Wednesday, February 25th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a report on Monday, April 6th. Wall Street Zen downgraded shares of Century Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright increased their price target on shares of Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st.

Century Therapeutics Price Performance

NASDAQ:IPSC opened at $2.26 on Friday. The firm has a market capitalization of $407.59 million, a P/E ratio of -1.98 and a beta of 1.55. Century Therapeutics has a 1-year low of $0.44 and a 1-year high of $3.04. The company’s fifty day moving average price is $2.29 and its 200-day moving average price is $1.70.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. Equities analysts anticipate that Century Therapeutics will post -0.44 EPS for the current fiscal year.

Insider Transactions at Century Therapeutics

In related news, insider Gregory Russotti sold 10,076 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $2.55, for a total transaction of $25,693.80. Following the sale, the insider directly owned 515,427 shares of the company’s stock, valued at approximately $1,314,338.85. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 17,862 shares of company stock worth $45,488 over the last quarter. Corporate insiders own 4.37% of the company’s stock.

Institutional Trading of Century Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Versant Venture Management LLC purchased a new stake in Century Therapeutics during the first quarter worth $27,495,000. Commodore Capital LP purchased a new stake in Century Therapeutics during the first quarter worth $19,652,000. Spruce Street Capital LP boosted its holdings in Century Therapeutics by 185.5% during the first quarter. Spruce Street Capital LP now owns 4,059,054 shares of the company’s stock worth $9,173,000 after buying an additional 2,637,522 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Century Therapeutics during the fourth quarter valued at $1,829,000. Finally, Rock Springs Capital Management LP purchased a new position in Century Therapeutics during the first quarter valued at $2,948,000. 50.20% of the stock is owned by hedge funds and other institutional investors.

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.