Clear Street analyst Bill Maughan lowered the firm's price target on Century Therapeutics to $6.60 from $8 and keeps a Buy rating on the shares. The private placement brings the runway out to 1Q29, allowing for development of a fuller picture of the true potential of lead asset CNTY-813 before needing additional capital, the analyst tells investors in a research note. The firm added that it is reducing its price target on dilution from the raise, offset by increased pipeline likelihood of success and peak sales.
