Equities research analysts at Guggenheim began coverage on shares of Century Therapeutics (NASDAQ:IPSC – Get Rating) in a research report issued to clients and investors on Monday, The Fly reports. The firm set a “buy” rating and a $15.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 39.15% from the stock’s current price.
Several other research firms have also recently commented on IPSC. Canaccord Genuity Group initiated coverage on shares of Century Therapeutics in a research note on Monday, October 10th. They issued a “buy” rating and a $28.00 target price for the company. Canaccord Genuity Group initiated coverage on shares of Century Therapeutics in a research note on Monday, October 10th. They issued a “buy” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.33.
Century Therapeutics Stock Up 5.9 %
Shares of NASDAQ:IPSC opened at $10.78 on Monday. The stock has a market cap of $634.75 million, a P/E ratio of -5.61 and a beta of 0.22. The firm has a fifty day moving average price of $10.21 and a 200 day moving average price of $10.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 17.79 and a quick ratio of 17.79. Century Therapeutics has a 1-year low of $7.32 and a 1-year high of $25.52.
Century Therapeutics (NASDAQ:IPSC – Get Rating) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.04). The company had revenue of $1.40 million for the quarter, compared to analysts’ expectations of $1.20 million. Sell-side analysts predict that Century Therapeutics will post -2.44 EPS for the current year.
Insider Activity
In other news, major shareholder Versant Venture Capital Vi, L. sold 550,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $13.03, for a total value of $7,166,500.00. Following the completion of the transaction, the insider now owns 11,816,814 shares in the company, valued at approximately $153,973,086.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.
Hedge Funds Weigh In On Century Therapeutics
Hedge funds have recently added to or reduced their stakes in the business. Parametrica Management Ltd purchased a new position in Century Therapeutics during the 2nd quarter valued at about $241,000. Deep Track Capital LP boosted its stake in shares of Century Therapeutics by 270.6% during the 1st quarter. Deep Track Capital LP now owns 926,469 shares of the company’s stock worth $11,664,000 after purchasing an additional 676,469 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Century Therapeutics by 76.9% during the 1st quarter. New York State Common Retirement Fund now owns 13,651 shares of the company’s stock worth $172,000 after purchasing an additional 5,933 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Century Therapeutics by 91.0% during the 2nd quarter. Rhumbline Advisers now owns 28,578 shares of the company’s stock worth $240,000 after purchasing an additional 13,617 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Century Therapeutics by 24.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 25,768 shares of the company’s stock worth $216,000 after purchasing an additional 5,022 shares during the last quarter. 36.97% of the stock is currently owned by hedge funds and other institutional investors.
Century Therapeutics Company Profile
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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Read More: Century Therapeutics (NASDAQ:IPSC) Coverage Initiated by Analysts at Guggenheim