Century Therapeutics (NASDAQ:IPSC) Price Target Lowered to $2.00 at Piper Sandler

Century Therapeutics (NASDAQ:IPSC) had its price target cut by Piper Sandler from $4.00 to $2.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently weighed in on IPSC. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.00.

Century Therapeutics Stock Down 5.7 %

NASDAQ IPSC opened at $0.55 on Thursday. The stock has a market cap of $46.77 million, a P/E ratio of -0.30 and a beta of 1.75. The company’s 50-day simple moving average is $0.75 and its 200 day simple moving average is $1.17. Century Therapeutics has a twelve month low of $0.52 and a twelve month high of $5.24.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Wednesday, March 19th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. The business had revenue of $4.18 million for the quarter, compared to analysts’ expectations of $0.67 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. Research analysts anticipate that Century Therapeutics will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IPSC. State Street Corp boosted 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 buying an additional 57,323 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Century Therapeutics during the third quarter worth approximately $284,000. Barclays PLC lifted its position in shares of Century Therapeutics by 283.6% during the third quarter. Barclays PLC now owns 61,945 shares of the company’s stock worth $106,000 after purchasing an additional 45,797 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Century Therapeutics by 3.5% during the third quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock worth $1,656,000 after purchasing an additional 32,614 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Century Therapeutics by 257.6% during the third quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company’s stock worth $123,000 after purchasing an additional 51,664 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.