Brokerages Set Century Therapeutics, Inc. (NASDAQ:IPSC) Target Price at $14.17

Shares of Century Therapeutics, Inc. (NASDAQ:IPSC) have been given an average rating of “Moderate Buy” by the five brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $13.60.

Several research firms have commented on IPSC. Piper Sandler reissued an “overweight” rating and issued a $9.00 target price (down from $10.00) on shares of Century Therapeutics in a report on Friday, April 12th. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Century Therapeutics in a research note on Friday, March 15th. Finally, Canaccord Genuity Group boosted their price target on Century Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, March 15th.

Insider Activity at Century Therapeutics

In related news, insider Adrienne Farid sold 22,831 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $5.14, for a total transaction of $117,351.34. Following the completion of the sale, the insider now owns 114,149 shares in the company, valued at $586,725.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 25,509 shares of company stock worth $127,635. 7.60% of the stock is owned by insiders.

Institutional Trading of Century Therapeutics

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Century Therapeutics by 14.4% during the 2nd quarter. BlackRock Inc. now owns 1,615,174 shares of the company’s stock valued at $5,104,000 after buying an additional 203,725 shares in the last quarter. Avidity Partners Management LP lifted its holdings in Century Therapeutics by 23.4% during the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock valued at $4,499,000 after purchasing an additional 256,500 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Century Therapeutics by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 1,124,653 shares of the company’s stock valued at $3,734,000 after purchasing an additional 5,483 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Century Therapeutics by 0.4% during the fourth quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock valued at $2,053,000 after purchasing an additional 2,500 shares in the last quarter. Finally, State Street Corp lifted its holdings in Century Therapeutics by 23.3% during the second quarter. State Street Corp now owns 454,791 shares of the company’s stock valued at $1,437,000 after purchasing an additional 85,940 shares in the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Century Therapeutics Trading Down 14.4 %

Century Therapeutics stock opened at $3.14 on Friday. The business’s fifty day simple moving average is $4.28 and its two-hundred day simple moving average is $3.09. Century Therapeutics has a 12 month low of $1.28 and a 12 month high of $5.51. The company has a market capitalization of $203.53 million, a price-to-earnings ratio of -1.37 and a beta of 1.33.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Thursday, March 14th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.07. Century Therapeutics had a negative return on equity of 54.73% and a negative net margin of 6,115.12%. The business had revenue of $0.27 million for the quarter, compared to the consensus estimate of $1.69 million. On average, equities research analysts predict that Century Therapeutics will post -2.02 EPS for the current year.

About Century Therapeutics

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.