Century Therapeutics (NASDAQ:IPSC) Price Target Lowered to $5.00 at HC Wainwright

Century Therapeutics (NASDAQ:IPSC) had its target price reduced by HC Wainwright from $9.00 to $5.00 in a report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Century Therapeutics’ FY2024 earnings at ($1.66) EPS.

Separately, Rodman & Renshaw assumed coverage on Century Therapeutics in a research note on Thursday, August 8th. They set a “buy” rating and a $6.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.60.

Century Therapeutics Price Performance

IPSC stock traded down $0.02 during mid-day trading on Wednesday, hitting $1.44. 327,206 shares of the stock were exchanged, compared to its average volume of 367,176. The business has a fifty day moving average price of $1.51 and a 200 day moving average price of $2.22. Century Therapeutics has a 12 month low of $1.14 and a 12 month high of $5.51. The stock has a market capitalization of $122.44 million, a price-to-earnings ratio of -0.78 and a beta of 1.41.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. The firm had revenue of $0.79 million during the quarter, compared to analyst estimates of $0.47 million. During the same period in the previous year, the business posted ($0.55) EPS. As a group, equities analysts forecast that Century Therapeutics will post -1.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About Century Therapeutics

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.