Century Therapeutics (NASDAQ:IPSC) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Century Therapeutics (NASDAQ:IPSC) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other brokerages have also commented on IPSC. Leerink Partnrs lowered Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Century Therapeutics in a research note on Wednesday, October 8th. Leerink Partners reiterated a “market perform” rating and issued a $2.00 price objective (down previously from $7.00) on shares of Century Therapeutics in a research note on Monday, November 17th. Finally, Wall Street Zen downgraded Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.40.

Century Therapeutics Price Performance

Shares of Century Therapeutics stock opened at $1.30 on Tuesday. The stock has a market capitalization of $113.62 million, a P/E ratio of -4.06 and a beta of 1.72. The business’s 50 day simple moving average is $0.68 and its two-hundred day simple moving average is $0.59. Century Therapeutics has a one year low of $0.34 and a one year high of $1.34.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Thursday, November 13th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. Sell-side analysts expect that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Century Therapeutics

In other Century Therapeutics news, CEO Brent Pfeiffenberger purchased 52,000 shares of the stock in a transaction on Friday, December 12th. The stock was acquired at an average price of $0.58 per share, with a total value of $30,160.00. Following the completion of the acquisition, the chief executive officer owned 3,322,990 shares in the company, valued at $1,927,334.20. The trade was a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chad Cowan acquired 58,060 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $0.85 per share, for a total transaction of $49,351.00. Following the acquisition, the insider owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This represents a 5.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 145,060 shares of company stock worth $97,011 and have sold 65,987 shares worth $29,798. 4.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Century Therapeutics

A number of institutional investors have recently modified their holdings of IPSC. Prudential Financial Inc. purchased a new position in shares of Century Therapeutics in the 2nd quarter valued at about $25,000. Qube Research & Technologies Ltd acquired a new stake in shares of Century Therapeutics in the second quarter worth approximately $38,000. Y Intercept Hong Kong Ltd acquired a new position in Century Therapeutics in the 2nd quarter valued at $50,000. Raymond James Financial Inc. purchased a new position in Century Therapeutics in the 2nd quarter valued at $51,000. Finally, AQR Capital Management LLC grew its stake 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 acquiring 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.