Century Therapeutics’ (IPSC) “Buy” Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Century Therapeutics (NASDAQ:IPSC) in a report published on Wednesday morning,Benzinga reports.

Several other research firms also recently commented on IPSC. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Century Therapeutics in a research note on Wednesday. Chardan Capital lowered 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. Finally, Piper Sandler reduced their price target on Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, December 30th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $10.00.

Century Therapeutics Price Performance

Shares of NASDAQ:IPSC opened at $0.89 on Wednesday. The company’s fifty day moving average price is $1.18 and its 200-day moving average price is $1.56. The firm has a market capitalization of $75.76 million, a price-to-earnings ratio of -0.48 and a beta of 1.76. Century Therapeutics has a one year low of $0.87 and a one year high of $5.51.

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

Institutional Investors Weigh In On Century Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of IPSC. Bank of New York Mellon Corp lifted 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 worth $380,000 after acquiring an additional 78,088 shares during the period. Rhumbline Advisers lifted its position in shares of Century Therapeutics by 56.0% in the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock worth $134,000 after purchasing an additional 18,828 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Century Therapeutics by 141.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after purchasing an additional 44,155 shares during the period. Renaissance Technologies LLC boosted its stake 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 valued at $422,000 after purchasing an additional 9,500 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Century Therapeutics during the 3rd quarter worth approximately $27,000. Hedge funds and other institutional investors 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.