Shares of Century Therapeutics, Inc. (NASDAQ:IPSC – Get Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $10.40, but opened at $10.91. Century Therapeutics shares last traded at $10.99, with a volume of 1,136 shares traded.
Analysts Set New Price Targets
Several equities research analysts have weighed in on IPSC shares. William Blair assumed coverage on Century Therapeutics in a report on Thursday, May 12th. They issued a “market perform” rating for the company. Piper Sandler decreased their price objective on Century Therapeutics from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, May 16th. Roth Capital assumed coverage on Century Therapeutics in a research note on Friday, June 10th. They set a “buy” rating for the company. Finally, HC Wainwright assumed coverage on Century Therapeutics in a research note on Monday, May 23rd. They set a “buy” rating and a $27.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Century Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.
Century Therapeutics Stock Down 0.4 %
The company has a 50-day moving average of $9.20 and a 200-day moving average of $11.05. The company has a market capitalization of $638.52 million, a price-to-earnings ratio of -3.29 and a beta of 0.34. The company has a current ratio of 16.62, a quick ratio of 16.62 and a debt-to-equity ratio of 0.03.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Deep Track Capital LP increased its holdings in shares of Century Therapeutics by 270.6% in the first quarter. Deep Track Capital LP now owns 926,469 shares of the company’s stock valued at $11,664,000 after purchasing an additional 676,469 shares during the period. Marshall Wace LLP increased its holdings in shares of Century Therapeutics by 528.7% in the fourth quarter. Marshall Wace LLP now owns 701,338 shares of the company’s stock valued at $11,123,000 after purchasing an additional 589,786 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Century Therapeutics in the fourth quarter valued at about $6,515,000. Vanguard Group Inc. increased its holdings in shares of Century Therapeutics by 49.6% in the first quarter. Vanguard Group Inc. now owns 819,762 shares of the company’s stock valued at $10,320,000 after purchasing an additional 271,760 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Century Therapeutics by 24.3% in the first quarter. BlackRock Inc. now owns 1,028,257 shares of the company’s stock valued at $12,946,000 after purchasing an additional 200,834 shares during the period. 57.50% 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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