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

Century Therapeutics (NASDAQ:IPSC) had its target price lowered by Piper Sandler from $4.00 to $2.00 in a report issued on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on the company. 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 set a $5.00 price objective on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $5.80.

Century Therapeutics Stock Performance

Shares of NASDAQ IPSC opened at $0.56 on Thursday. The stock has a fifty day moving average price of $0.74 and a two-hundred day moving average price of $1.16. The firm has a market cap of $47.19 million, a P/E ratio of -0.30 and a beta of 1.75. Century Therapeutics has a 1 year low of $0.52 and a 1 year high of $4.50.

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

Institutional Investors Weigh In On Century Therapeutics

Hedge funds have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of 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 purchased a new position in Century Therapeutics during the third quarter valued at approximately $284,000. Barclays PLC increased its stake in Century Therapeutics by 283.6% in the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after buying an additional 45,797 shares during the period. Geode Capital Management LLC lifted its position 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 buying an additional 32,614 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings 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 in the last quarter. 50.20% of the stock is owned by hedge funds and other institutional investors.

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.