Century Therapeutics (NASDAQ:IPSC) Upgraded by Wall Street Zen to Hold Rating

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

A number of other research firms have also recently issued reports on IPSC. Piper Sandler boosted their price objective on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a 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 on the stock. Zacks Research upgraded Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Leerink Partners lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Century Therapeutics has an average rating of “Moderate Buy” and an average target price of $3.80.

Century Therapeutics Price Performance

Shares of NASDAQ:IPSC opened at $2.56 on Friday. The firm has a market capitalization of $223.74 million, a PE ratio of -8.00 and a beta of 1.70. The business has a 50 day simple moving average of $1.92 and a two-hundred day simple moving average of $1.04. Century Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.71.

Insiders Place Their Bets

In related news, insider Chad Cowan bought 58,060 shares of the business’s stock in a transaction on 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 completion of the purchase, the insider directly owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This trade represents a 5.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brent Pfeiffenberger bought 52,000 shares of Century Therapeutics stock in a transaction on Friday, December 12th. The stock was purchased 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 directly owned 3,322,990 shares of the company’s stock, valued at $1,927,334.20. This represents a 1.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,106 shares of company stock valued at $1,003 over the last 90 days. 4.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Squarepoint Ops LLC grew its holdings in Century Therapeutics by 483.1% in the third quarter. Squarepoint Ops LLC now owns 236,053 shares of the company’s stock worth $118,000 after purchasing an additional 195,573 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Century Therapeutics during the second quarter worth $248,000. Marshall Wace LLP purchased a new stake in shares of Century Therapeutics during the 2nd quarter valued at $78,000. Acadian Asset Management LLC lifted its holdings in shares of Century Therapeutics by 101.2% during the 1st quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock valued at $133,000 after purchasing an additional 142,953 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Century Therapeutics by 26.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock worth $86,000 after purchasing an additional 38,052 shares in the last quarter. Institutional investors own 50.20% of the company’s stock.

Century Therapeutics Company Profile

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.