Century Therapeutics (NASDAQ:IPSC) Given New $4.00 Price Target at Piper Sandler

Century Therapeutics (NASDAQ:IPSC) had its target price reduced by Piper Sandler from $12.00 to $4.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently commented on the company. HC Wainwright reduced their price target on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Chardan Capital dropped their price target on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $10.00.

Century Therapeutics Stock Performance

NASDAQ:IPSC opened at $1.00 on Monday. Century Therapeutics has a 52-week low of $0.95 and a 52-week high of $5.51. The company has a market cap of $85.03 million, a P/E ratio of -0.54 and a beta of 1.65. The stock’s 50-day simple moving average is $1.33 and its 200 day simple moving average is $1.77.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The company had revenue of $0.79 million for the quarter, compared to analysts’ expectations of $0.47 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. During the same quarter in the prior year, the business posted ($0.55) EPS. As a group, equities analysts predict that Century Therapeutics will post -1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position 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 acquiring an additional 32,614 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 valued at $1,431,000 after purchasing an additional 57,323 shares during the period. Wellington Management Group LLP acquired a new position in shares of Century Therapeutics during the 3rd quarter worth approximately $284,000. Renaissance Technologies LLC increased its holdings 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 during the period. Finally, Bank of New York Mellon Corp raised its position 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 buying an additional 78,088 shares in the last quarter. 50.20% of the stock is 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.