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

Century Therapeutics (NASDAQ:IPSC) had its price target reduced by equities researchers at Piper Sandler from $4.00 to $2.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 272.44% from the stock’s current price.

IPSC has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a report on Wednesday, January 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $6.00.

Century Therapeutics Stock Down 7.9 %

IPSC traded down $0.05 during midday trading on Thursday, hitting $0.54. 726,855 shares of the company were exchanged, compared to its average volume of 369,278. The firm’s 50 day moving average price is $0.76 and its 200-day moving average price is $1.17. Century Therapeutics has a 1-year low of $0.53 and a 1-year high of $5.24. The firm has a market capitalization of $45.66 million, a P/E ratio of -0.29 and a beta of 1.75.

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

Hedge Funds Weigh In On Century Therapeutics

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Century Therapeutics by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock worth $1,656,000 after acquiring an additional 32,614 shares during the last quarter. Barclays PLC grew its position in shares of Century Therapeutics by 283.6% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after acquiring an additional 45,797 shares during the period. JPMorgan Chase & Co. grew its position in shares of Century Therapeutics by 257.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company’s stock valued at $123,000 after acquiring an additional 51,664 shares during the period. State Street Corp boosted its holdings in Century Therapeutics by 7.4% in the 3rd quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after buying an additional 57,323 shares during the period. Finally, Wellington Management Group LLP bought a new position in Century Therapeutics in the 3rd quarter worth $284,000. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

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.