Century Therapeutics (NASDAQ:IPSC) Downgraded by Zacks Research to “Hold”

Century Therapeutics (NASDAQ:IPSC) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. TD Cowen assumed coverage on shares of Century Therapeutics in a report on Wednesday, February 25th. They issued a “buy” rating for the company. Leerink Partners set a $2.00 target price on shares of Century Therapeutics and gave the stock a “market perform” rating in a report on Friday. Finally, Piper Sandler increased their price objective on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.80.

Century Therapeutics Stock Performance

Shares of IPSC stock opened at $2.34 on Thursday. Century Therapeutics has a one year low of $0.34 and a one year high of $3.04. The firm’s 50 day moving average price is $2.08 and its 200-day moving average price is $1.11. The firm has a market cap of $204.52 million, a P/E ratio of -16.71 and a beta of 1.70.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. As a group, research analysts predict that Century Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity

In other news, insider Chad Cowan bought 58,060 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was purchased 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 owned 1,045,087 shares in the company, valued at approximately $888,323.95. This trade represents a 5.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.37% of the company’s stock.

Institutional Trading of Century Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. acquired a new position in shares of Century Therapeutics during the 4th quarter worth about $1,829,000. Spruce Street Capital LP purchased a new position in Century Therapeutics in the fourth quarter valued at approximately $1,414,000. Two Sigma Investments LP increased its stake in Century Therapeutics by 59.2% in the third quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after purchasing an additional 338,902 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of 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 last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Century Therapeutics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock worth $454,000 after buying an additional 10,806 shares during the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.