Century Therapeutics, Inc. (NASDAQ:IPSC) Stake Cut by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) by 55.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,163 shares of the company’s stock after selling 338,980 shares during the period. Federated Hermes Inc. owned about 0.33% of Century Therapeutics worth $704,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in shares of Century Therapeutics by 56.0% in the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after buying an additional 18,828 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 acquiring an additional 78,088 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Century Therapeutics by 191.0% during the first 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 last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 14,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Century Therapeutics during the 1st quarter worth approximately $47,000. Institutional investors own 50.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IPSC shares. HC Wainwright lowered their price objective on Century Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Rodman & Renshaw started coverage on shares of Century Therapeutics in a research report on Thursday, August 8th. They set a “buy” rating and a $6.00 price target for the company. Finally, Piper Sandler lifted their price objective on shares of Century Therapeutics from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday, June 17th.

Century Therapeutics Price Performance

IPSC opened at $1.70 on Monday. The stock’s 50 day moving average price is $1.92 and its 200 day moving average price is $2.86. The stock has a market cap of $143.65 million, a P/E ratio of -0.77 and a beta of 1.36. Century Therapeutics, Inc. has a 12 month low of $1.28 and a 12 month high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.12. Century Therapeutics had a negative return on equity of 60.60% and a negative net margin of 6,434.23%. The company had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.55 million. Equities analysts anticipate that Century Therapeutics, Inc. will post -1.8 EPS for the current year.

Century Therapeutics 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.