Century Therapeutics (NASDAQ:IPSC) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report issued on Tuesday, Zacks.com reports.
According to Zacks, "Century Therapeutics Inc. is a cell therapy company. It involved in developing induced pluripotent stem cell -derived cell therapies in immuno-oncology. Century Therapeutics Inc. is based in PHILADELPHIA. "
A number of other research analysts have also recently commented on IPSC. Piper Sandler began coverage on shares of Century Therapeutics in a report on Tuesday, July 13th. They issued an "overweight" rating and a $38.00 price target on the stock. SVB Leerink restated a "buy" rating on shares of Century Therapeutics in a report on Sunday, August 15th. Bank of America began coverage on shares of Century Therapeutics in a report on Tuesday, July 13th. They issued a "buy" rating and a $34.00 price target on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Century Therapeutics in a report on Tuesday, July 13th. They issued an "overweight" rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Century Therapeutics presently has a consensus rating of "Buy" and an average target price of $36.25.
IPSC stock traded up $0.65 during mid-day trading on Tuesday, reaching $28.37. 141,229 shares of the stock traded hands, compared to its average volume of 224,629. Century Therapeutics has a one year low of $18.92 and a one year high of $32.90. The company has a 50-day simple moving average of $27.70.
Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings data on Thursday, August 12th. The company reported ($1.93) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.40) by ($1.53). Equities research analysts forecast that Century Therapeutics will post -3 earnings per share for the current fiscal year.
In other Century Therapeutics news, Director Eli Casdin acquired 750,000 shares of the stock in a transaction that occurred on Tuesday, June 22nd. The stock was bought at an average cost of $20.00 per share, with a total value of $15,000,000.00.
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new stake in shares of Century Therapeutics during the second quarter valued at about $29,000. Tudor Investment Corp Et Al purchased a new stake in shares of Century Therapeutics during the second quarter valued at about $205,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Century Therapeutics during the second quarter valued at about $531,000. Qube Research & Technologies Ltd purchased a new stake in shares of Century Therapeutics during the second quarter valued at about $586,000. Finally, Caas Capital Management LP acquired a new position in shares of Century Therapeutics during the second quarter valued at about $880,000. 30.46% of the stock is owned by institutional investors and hedge funds.
About Century Therapeutics
Century Therapeutics, Inc, a biotechnology company, develops transformative allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. The company's lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy targeting CD19 for relapsed, refractory B-cell lymphoma.
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