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S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
pixel
pixel
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S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
pixel
pixel
pixel
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
pixel
pixel
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Zacks Investment Research Downgrades Century Therapeutics (NASDAQ:IPSC) to Sell

Tuesday, September 14, 2021 | MarketBeat

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.

Further Reading: Capital Gains

Get a free copy of the Zacks research report on Century Therapeutics (IPSC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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