Century Therapeutics (NASDAQ:IPSC) Issues Quarterly Earnings Results

Century Therapeutics (NASDAQ:IPSC) posted its earnings results on Wednesday. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.02, Zacks reports. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%.

Century Therapeutics Price Performance

Shares of IPSC traded down $0.01 during mid-day trading on Wednesday, hitting $0.58. The stock had a trading volume of 262,695 shares, compared to its average volume of 366,270. Century Therapeutics has a 52 week low of $0.55 and a 52 week high of $5.24. The business has a fifty day moving average price of $0.77 and a 200-day moving average price of $1.18. The firm has a market cap of $49.57 million, a P/E ratio of -0.32 and a beta of 1.75.

Institutional Investors Weigh In On Century Therapeutics

An institutional investor recently raised its position in Century Therapeutics stock. Bank of America Corp DE lifted its position in Century Therapeutics, Inc. (NASDAQ:IPSC) by 109.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,043 shares of the company’s stock after buying an additional 34,466 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of Century Therapeutics worth $67,000 at the end of the most recent quarter. Institutional investors and hedge funds own 50.20% of the company’s stock.

Analysts Set New Price Targets

IPSC has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Century Therapeutics in a report on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Finally, Piper Sandler reduced their price target on shares of Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating for the company in a research report on Monday, December 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.50.

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.