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

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

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Century Therapeutics in a research report on Thursday, July 2nd. HC Wainwright increased their price target on shares of Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Mizuho started coverage on shares of Century Therapeutics in a research note on Wednesday, May 27th. They set an “outperform” rating and a $8.00 price target on the stock. Finally, Wall Street Zen lowered shares of Century Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th.

Century Therapeutics Stock Down 2.6%

Shares of NASDAQ IPSC traded down $0.06 during mid-day trading on Friday, reaching $2.25. 1,200,148 shares of the company were exchanged, compared to its average volume of 1,998,291. Century Therapeutics has a 52 week low of $0.44 and a 52 week high of $3.04. The stock has a market capitalization of $405.79 million, a PE ratio of -1.97 and a beta of 1.55. The company’s 50 day moving average price is $2.29 and its 200 day moving average price is $2.12.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. On average, sell-side analysts predict that Century Therapeutics will post -0.43 earnings per share for the current year.

Institutional Trading of Century Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of Century Therapeutics by 109.1% during the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock valued at $67,000 after buying an additional 34,466 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Century Therapeutics by 358.9% in the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock valued at $53,000 after acquiring an additional 86,875 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Century Therapeutics by 26.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock valued at $86,000 after acquiring an additional 38,052 shares during the period. Acadian Asset Management LLC boosted its holdings in Century Therapeutics by 101.2% during the 1st quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock valued at $133,000 after acquiring an additional 142,953 shares during the period. Finally, Prudential Financial Inc. bought a new position in Century Therapeutics during the 2nd quarter worth approximately $25,000. 50.20% of the stock is owned by institutional investors.

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.