Century Therapeutics (NASDAQ:IPSC) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Century Therapeutics (NASDAQ:IPSC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a research report on Tuesday, September 29th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.75.

Century Therapeutics Price Performance

Century Therapeutics stock opened at $1.48 on Friday. The firm has a market cap of $267.98 million, a price-to-earnings ratio of -1.59 and a beta of 1.67. Century Therapeutics has a fifty-two week low of $0.43 and a fifty-two week high of $3.04. The firm has a fifty day moving average price of $1.73 and a two-hundred day moving average price of $2.09.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). As a group, sell-side analysts expect that Century Therapeutics will post -0.51 earnings per share for the current year.

Institutional Investors Weigh In On Century Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Venture Management LLC bought a new position in Century Therapeutics during the first quarter worth $27,495,000. BlackRock Inc. acquired a new position in Century Therapeutics during the 2nd quarter valued at $19,825,000. Commodore Capital LP bought a new stake in Century Therapeutics in the 1st quarter valued at $19,652,000. Seven Fleet Capital Management LP bought a new stake in Century Therapeutics in the 2nd quarter valued at $10,652,174. Finally, Trails Edge Capital Partners LP bought a new stake in Century Therapeutics in the 2nd quarter valued at $10,130,674. Institutional investors and hedge funds own 50.20% of the company’s stock.

About Century Therapeutics

Century Therapeutics, Inc is a biotechnology company focused on developing allogeneic, or “off-the-shelf,” cell therapies for cancer. The company uses induced pluripotent stem cell (iPSC) technology to create immune-effector cells, including natural killer (NK) cells and T cells, that can be engineered to recognize and attack tumor cells.

Century’s pipeline has included product candidates designed for hematologic malignancies and solid tumors. Its programs incorporate technologies intended to improve the persistence, activity, and scalability of engineered immune cells, with development efforts involving targets such as CD19 and other tumor-associated antigens.