Century Therapeutics, Inc. (NASDAQ:IPSC) Receives Consensus Recommendation of “Buy” from Analysts

Century Therapeutics, Inc. (NASDAQ:IPSC) has received an average recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $10.00.

A number of analysts have weighed in on the stock. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a report on Wednesday. Chardan Capital decreased their target price on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Piper Sandler cut their price target on Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating on the stock in a report on Monday, December 30th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Century Therapeutics in a research note on Wednesday.

Century Therapeutics Stock Performance

Shares of IPSC stock traded up $0.00 during mid-day trading on Wednesday, reaching $0.90. 148,153 shares of the company were exchanged, compared to its average volume of 497,708. Century Therapeutics has a fifty-two week low of $0.87 and a fifty-two week high of $5.51. The company has a market capitalization of $76.53 million, a P/E ratio of -0.48 and a beta of 1.76. The business’s 50 day simple moving average is $1.19 and its 200 day simple moving average is $1.57.

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

Hedge Funds Weigh In On Century Therapeutics

Several large investors have recently made changes to their positions in IPSC. Geode Capital Management LLC boosted its holdings in Century Therapeutics by 3.5% during the third 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. State Street Corp boosted its stake in Century Therapeutics by 7.4% in the 3rd quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after purchasing an additional 57,323 shares during the period. Wellington Management Group LLP purchased a new position in shares of Century Therapeutics during the third quarter valued at $284,000. Renaissance Technologies LLC lifted its stake in Century Therapeutics by 6.1% in the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in 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 valued at $380,000 after acquiring an additional 78,088 shares in the last quarter. Institutional investors own 50.20% of the company’s stock.

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.