Brokerages Set Century Therapeutics, Inc. (NASDAQ:IPSC) Target Price at $4.75

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $4.75.

IPSC has been the topic of a number of research analyst reports. Mizuho initiated coverage on Century Therapeutics in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 target price on the stock. Zacks Research cut Century Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Wall Street Zen raised Century Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. 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, TD Cowen started coverage on Century Therapeutics in a research note on Wednesday, February 25th. They set a “buy” rating on the stock.

Century Therapeutics Stock Down 5.2%

IPSC opened at $2.18 on Wednesday. The stock has a market cap of $393.16 million, a PE ratio of -1.91 and a beta of 1.56. Century Therapeutics has a 52 week low of $0.44 and a 52 week high of $3.04. The business’s fifty day simple moving average is $2.28 and its 200 day simple moving average is $1.91.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. As a group, equities analysts anticipate that Century Therapeutics will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Seven Fleet Capital Management LP purchased a new stake in shares of Century Therapeutics during the first quarter worth about $9,826,000. DV Trading LLC purchased a new stake in shares of Century Therapeutics during the first quarter worth about $3,164,000. Bank of America Corp DE boosted its holdings in shares of Century Therapeutics by 27,537.9% during the first quarter. Bank of America Corp DE now owns 145,099 shares of the company’s stock worth $328,000 after purchasing an additional 144,574 shares during the period. Rock Springs Capital Management LP purchased a new stake in shares of Century Therapeutics during the first quarter worth about $2,948,000. Finally, Commodore Capital LP purchased a new stake in shares of Century Therapeutics during the first quarter worth about $19,652,000. 50.20% of the stock is owned by institutional investors.

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.