Century Therapeutics (NASDAQ:IPSC) Price Target Cut to $11.00 by Analysts at Chardan Capital

Century Therapeutics (NASDAQ:IPSC) had its target price lowered by equities research analysts at Chardan Capital from $17.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Rodman & Renshaw initiated coverage on Century Therapeutics in a report on Thursday, August 8th. They issued a “buy” rating and a $6.00 target price on the stock. HC Wainwright decreased their price objective on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $11.60.

Century Therapeutics Price Performance

Shares of IPSC opened at $1.44 on Thursday. Century Therapeutics has a 12-month low of $1.14 and a 12-month high of $5.51. The business’s 50 day moving average is $1.52 and its 200 day moving average is $2.23.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.08. The firm had revenue of $0.79 million for the quarter, compared to the consensus estimate of $0.47 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. During the same quarter in the previous year, the firm earned ($0.55) earnings per share. As a group, sell-side analysts anticipate that Century Therapeutics will post -1.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Century Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Century Therapeutics during the 1st quarter valued at approximately $47,000. SG Americas Securities LLC bought a new position in Century Therapeutics during the third quarter valued at $27,000. Rhumbline Advisers raised its stake in shares of Century Therapeutics by 56.0% in the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after acquiring an additional 18,828 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Century Therapeutics by 141.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after acquiring an additional 44,155 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Century Therapeutics by 110.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after purchasing an additional 78,088 shares during the period. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

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.