HC Wainwright Has Lowered Expectations for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its price objective dropped by equities research analysts at HC Wainwright from $9.00 to $5.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 242.47% from the stock’s current price. HC Wainwright also issued estimates for Century Therapeutics’ FY2024 earnings at ($1.66) EPS.

Separately, Rodman & Renshaw initiated coverage on shares of Century Therapeutics in a research note on Thursday, August 8th. They set a “buy” rating and a $6.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.60.

Century Therapeutics Price Performance

IPSC opened at $1.46 on Wednesday. The company has a market capitalization of $123.69 million, a price-to-earnings ratio of -0.79 and a beta of 1.41. The business’s 50-day moving average price is $1.52 and its two-hundred day moving average price is $2.24. Century Therapeutics has a 1 year low of $1.14 and a 1 year high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.08. Century Therapeutics had a negative return on equity of 60.60% and a negative net margin of 6,434.23%. The business had revenue of $0.79 million for the quarter, compared to analyst estimates of $0.47 million. During the same quarter in the prior year, the company posted ($0.55) earnings per share. Sell-side analysts anticipate that Century Therapeutics will post -1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Century Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock worth $4,760,000 after buying an additional 14,000 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Century Therapeutics by 191.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock valued at $1,229,000 after purchasing an additional 192,915 shares during the period. Renaissance Technologies LLC increased its position in Century Therapeutics by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after buying an additional 9,500 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Century Therapeutics by 110.1% during the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after buying an additional 78,088 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Century Therapeutics by 141.7% in the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after acquiring an additional 44,155 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.