Century Therapeutics (NASDAQ:IPSC) Research Coverage Started at TD Cowen

TD Cowen initiated coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating on the stock.

Several other analysts have also recently issued reports on IPSC. Leerink Partners cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Zacks Research upgraded Century Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Piper Sandler boosted their target price on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, Wall Street Zen lowered Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, February 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.80.

Century Therapeutics Stock Up 3.6%

Shares of Century Therapeutics stock opened at $2.32 on Wednesday. The firm has a market cap of $202.77 million, a PE ratio of -7.25 and a beta of 1.75. Century Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.71. The company’s fifty day simple moving average is $1.78 and its two-hundred day simple moving average is $0.97.

Insider Buying and Selling

In other news, CEO Brent Pfeiffenberger purchased 52,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were bought at an average cost of $0.58 per share, for a total transaction of $30,160.00. Following the completion of the transaction, the chief executive officer directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Chad Cowan purchased 58,060 shares of Century Therapeutics stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average cost 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 of the company’s stock, valued at $888,323.95. This trade represents a 5.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 1,106 shares of company stock valued at $1,003. 4.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. purchased a new position in shares of Century Therapeutics during the fourth quarter valued at approximately $1,829,000. Spruce Street Capital LP bought a new position in Century Therapeutics during the 4th quarter valued at approximately $1,414,000. Jane Street Group LLC purchased a new position in Century Therapeutics during the second quarter valued at $248,000. Two Sigma Investments LP boosted its holdings in Century Therapeutics by 59.2% in the third quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock worth $454,000 after acquiring an additional 338,902 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of 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 acquiring an additional 195,573 shares during the last quarter. Hedge funds and other 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.