Century Therapeutics (NASDAQ:IPSC) Given "Overweight" Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Century Therapeutics (NASDAQ:IPSC - Free Report) in a report published on Friday, Benzinga reports. The firm currently has a $9.00 price target on the stock, down from their prior price target of $10.00.

A number of other brokerages have also issued reports on IPSC. Canaccord Genuity Group raised their target price on shares of Century Therapeutics from $22.00 to $24.00 and gave the stock a buy rating in a research report on Friday, March 15th. HC Wainwright restated a buy rating and set a $13.00 target price on shares of Century Therapeutics in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $14.00.

Century Therapeutics Stock Down 3.5 %

Century Therapeutics stock traded down $0.14 during mid-day trading on Friday, hitting $3.91. The company had a trading volume of 115,200 shares, compared to its average volume of 207,145. The stock has a market cap of $253.45 million, a price-to-earnings ratio of -1.71 and a beta of 1.33. Century Therapeutics has a 1 year low of $1.28 and a 1 year high of $5.51. The business has a fifty day moving average of $4.31 and a 200 day moving average of $3.05.

Century Therapeutics (NASDAQ:IPSC - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.07. The company had revenue of $0.27 million for the quarter, compared to analyst estimates of $1.69 million. Century Therapeutics had a negative net margin of 6,115.12% and a negative return on equity of 54.73%. Equities analysts anticipate that Century Therapeutics will post -2.02 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Adrienne Farid sold 22,831 shares of the 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 directly owns 114,149 shares of the company's stock, valued at $586,725.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 25,509 shares of company stock valued at $127,635 over the last three months. 7.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Century Therapeutics

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

Century Therapeutics Company Profile

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.