Century Therapeutics (NASDAQ:IPSC) Stock Rating Lowered by Zacks Research

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

A number of other research firms also recently weighed in on IPSC. Leerink Partners set a $2.00 target price on Century Therapeutics and gave the stock a “market perform” rating in a research report on Friday. Piper Sandler boosted their target price 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. TD Cowen initiated coverage on shares of Century Therapeutics in a research note on Wednesday, February 25th. They set a “buy” rating for the company. Finally, Wall Street Zen raised shares of Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.80.

Century Therapeutics Trading Down 6.4%

NASDAQ:IPSC opened at $2.34 on Thursday. The firm’s 50 day moving average is $2.08 and its 200 day moving average is $1.11. Century Therapeutics has a 12 month low of $0.34 and a 12 month high of $3.04. The stock has a market capitalization of $204.52 million, a PE ratio of -16.71 and a beta of 1.70.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. Research analysts predict that Century Therapeutics will post -1.61 earnings per share for the current year.

Insider Activity at Century Therapeutics

In other Century Therapeutics news, insider Chad Cowan bought 58,060 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average cost of $0.85 per share, with a total value of $49,351.00. Following the completion of the acquisition, the insider owned 1,045,087 shares in the company, valued at $888,323.95. This trade represents a 5.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.37% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors have recently bought and sold shares of IPSC. Bank of America Corp DE grew its stake in shares of Century Therapeutics by 109.1% in the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after buying an additional 34,466 shares in the last quarter. AQR Capital Management LLC grew its position in Century Therapeutics by 358.9% in the first quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after acquiring an additional 86,875 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Century Therapeutics by 26.9% during the first quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock worth $86,000 after acquiring an additional 38,052 shares during the last quarter. Acadian Asset Management LLC increased its stake in Century Therapeutics by 101.2% during the first quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock worth $133,000 after acquiring an additional 142,953 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Century Therapeutics during the second quarter valued at approximately $25,000. 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.