HC Wainwright Has Lowered Expectations for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its target price reduced by HC Wainwright from $9.00 to $5.00 in a research note released on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Century Therapeutics’ FY2024 earnings at ($1.66) EPS.

Separately, Rodman & Renshaw started coverage on shares of Century Therapeutics in a research report on Thursday, August 8th. They issued a “buy” rating and a $6.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.60.

Century Therapeutics Trading Down 1.4 %

IPSC opened at $1.44 on Wednesday. The stock has a market capitalization of $122.44 million, a PE ratio of -0.78 and a beta of 1.41. Century Therapeutics has a 1-year low of $1.14 and a 1-year high of $5.51. The firm has a 50-day moving average price of $1.51 and a two-hundred day moving average price of $2.21.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.08. The firm had revenue of $0.79 million during the quarter, compared to analysts’ expectations of $0.47 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. During the same quarter last year, the company posted ($0.55) EPS. On average, research analysts predict that Century Therapeutics will post -1.8 EPS for the current year.

Institutional Investors Weigh In On Century Therapeutics

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew 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 buying an additional 14,000 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Century Therapeutics by 191.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock worth $1,229,000 after buying an additional 192,915 shares during the period. Renaissance Technologies LLC grew its position in shares of Century Therapeutics by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after buying an additional 9,500 shares during the period. Bank of New York Mellon Corp grew its position in shares of Century Therapeutics by 110.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after buying an additional 78,088 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Century Therapeutics by 141.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after buying an additional 44,155 shares during the period. Institutional investors and hedge funds own 50.20% of the company’s stock.

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.