Guggenheim Reiterates Buy Rating for Century Therapeutics (NASDAQ:IPSC)

Century Therapeutics (NASDAQ:IPSC)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a research note issued on Friday,Benzinga reports.

A number of other brokerages have also weighed in on IPSC. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Chardan Capital cut their target price on Century Therapeutics from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Piper Sandler lowered their price target on Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $5.00.

Century Therapeutics Price Performance

Shares of Century Therapeutics stock opened at $0.51 on Friday. Century Therapeutics has a 1-year low of $0.51 and a 1-year high of $4.43. The business’s fifty day moving average price is $0.71 and its two-hundred day moving average price is $1.12. The company has a market capitalization of $44.13 million, a P/E ratio of -0.28 and a beta of 1.75.

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

Institutional Trading of Century Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPSC. Casdin Capital LLC increased its holdings in shares of Century Therapeutics by 61.6% in the fourth quarter. Casdin Capital LLC now owns 5,190,506 shares of the company’s stock valued at $5,242,000 after buying an additional 1,978,190 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Century Therapeutics by 1,041.8% in the 4th quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock worth $1,623,000 after acquiring an additional 1,466,415 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Century Therapeutics by 146.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,202,885 shares of the company’s stock worth $1,215,000 after purchasing an additional 714,685 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Century Therapeutics by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 991,595 shares of the company’s stock valued at $1,002,000 after purchasing an additional 23,413 shares during the last quarter. Finally, State Street Corp boosted its position 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. 50.20% of the stock is 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.