Century Therapeutics, Inc. (NASDAQ:IPSC) Given Average Recommendation of “Moderate Buy” by Brokerages

Century Therapeutics, Inc. (NASDAQ:IPSC) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.50.

IPSC has been the topic of several recent analyst reports. Zacks Research lowered shares of Century Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Wall Street Zen upgraded Century Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. TD Cowen started coverage on Century Therapeutics in a research report on Wednesday, February 25th. They issued a “buy” rating for the company. Leerink Partners set a $2.00 price objective on Century Therapeutics and gave the company a “market perform” rating in a research note on Friday, March 13th. Finally, Piper Sandler upped their target price on Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $2.55, for a total value of $25,693.80. Following the transaction, the insider directly owned 515,427 shares of the company’s stock, valued at approximately $1,314,338.85. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 17,921 shares of company stock valued at $45,458 over the last quarter. 4.37% of the stock is currently owned by insiders.

Institutional Trading of Century Therapeutics

Several large investors have recently modified their holdings of the stock. Two Sigma Investments LP lifted its position in shares of Century Therapeutics by 59.2% during the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after acquiring an additional 338,902 shares during the period. Geode Capital Management LLC grew its holdings in Century Therapeutics by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock worth $454,000 after purchasing an additional 10,806 shares during the period. Jane Street Group LLC acquired a new stake in Century Therapeutics in the second quarter worth $248,000. Citadel Advisors LLC increased its stake in Century Therapeutics by 64.1% in the third quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock valued at $180,000 after purchasing an additional 140,891 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Century Therapeutics by 101.2% in the first 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 in the last quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

Century Therapeutics Trading Down 2.7%

NASDAQ:IPSC traded down $0.06 on Friday, reaching $2.00. 108,593 shares of the stock traded hands, compared to its average volume of 1,863,007. Century Therapeutics has a 1-year low of $0.34 and a 1-year high of $3.04. The company’s 50 day moving average is $2.19 and its 200-day moving average is $1.22. The firm has a market capitalization of $360.16 million, a price-to-earnings ratio of -14.17 and a beta of 1.70.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. On average, equities research analysts forecast that Century Therapeutics will post -1.61 EPS for the current fiscal year.

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.