Century Therapeutics, Inc. (NASDAQ:IPSC) Given Average Rating of “Buy” by Brokerages

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

IPSC has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, December 30th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Century Therapeutics in a research report on Wednesday. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a report on Wednesday. Finally, Chardan Capital decreased their price target on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th.

Century Therapeutics Stock Up 0.3 %

IPSC traded up $0.00 on Wednesday, reaching $0.90. The company’s stock had a trading volume of 148,153 shares, compared to its average volume of 497,708. The company has a market capitalization of $76.53 million, a price-to-earnings ratio of -0.48 and a beta of 1.76. Century Therapeutics has a fifty-two week low of $0.87 and a fifty-two week high of $5.51. The stock has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.57.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $0.79 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned ($0.55) earnings per share. As a group, analysts anticipate that Century Therapeutics will post -1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Century Therapeutics by 3.5% in the third quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock valued at $1,656,000 after buying an additional 32,614 shares in the last quarter. State Street Corp grew its position in Century Therapeutics by 7.4% in the third quarter. State Street Corp now owns 836,914 shares of the company’s stock valued at $1,431,000 after acquiring an additional 57,323 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Century Therapeutics during the third quarter valued at approximately $284,000. Renaissance Technologies LLC lifted its position in shares of Century Therapeutics by 6.1% during the second quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Century Therapeutics by 110.1% in the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after purchasing an additional 78,088 shares during the period. Hedge funds and other institutional investors own 50.20% of the company’s stock.

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.