Century Therapeutics (NASDAQ:IPSC) Coverage Initiated by Analysts at TD Cowen

Research analysts at TD Cowen initiated coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a research note issued on Wednesday. The brokerage set a “buy” rating on the stock.

A number of other brokerages have also recently issued reports on IPSC. Leerink Partners cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Wall Street Zen cut Century Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, February 1st. Piper Sandler raised their price objective on shares of Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. 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 research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3.80.

Century Therapeutics Stock Performance

Shares of NASDAQ:IPSC opened at $2.13 on Wednesday. Century Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.71. The company has a market capitalization of $186.16 million, a PE ratio of -6.66 and a beta of 1.75. The company has a fifty day moving average of $1.69 and a 200-day moving average of $0.94.

Insider Buying and Selling

In other news, CEO Brent Pfeiffenberger bought 52,000 shares of the firm’s 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 transaction, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad Cowan bought 58,060 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average cost of $0.85 per share, with a total value of $49,351.00. Following the purchase, the insider directly owned 1,045,087 shares of the company’s stock, valued at $888,323.95. The trade was a 5.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 1,106 shares of company stock worth $1,003. 4.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Century Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in IPSC. Two Sigma Investments LP grew its stake in shares of Century Therapeutics by 59.2% in the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after buying an additional 338,902 shares during the period. GSA Capital Partners LLP raised its stake in Century Therapeutics by 29.3% during the 3rd quarter. GSA Capital Partners LLP now owns 603,479 shares of the company’s stock worth $301,000 after buying an additional 136,873 shares during the period. Spruce Street Capital LP bought a new position in Century Therapeutics in the fourth quarter worth approximately $1,414,000. Marshall Wace LLP acquired a new stake in Century Therapeutics in the second quarter valued at approximately $78,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Century Therapeutics during the fourth quarter valued at approximately $1,829,000. 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.