Century Therapeutics (NASDAQ:IPSC) Price Target Cut to $6.00 by Analysts at Chardan Capital

Century Therapeutics (NASDAQ:IPSC) had its price objective lowered by Chardan Capital from $7.00 to $6.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on IPSC. Guggenheim reiterated a “buy” rating on shares of Century Therapeutics in a report on Friday, March 28th. Piper Sandler decreased their price target on Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, HC Wainwright decreased their price target on Century Therapeutics from $5.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $4.20.

Century Therapeutics Stock Up 8.2%

NASDAQ IPSC opened at $0.56 on Friday. The company has a market capitalization of $48.25 million, a price-to-earnings ratio of -0.30 and a beta of 1.80. Century Therapeutics has a twelve month low of $0.34 and a twelve month high of $3.47. The stock has a fifty day simple moving average of $0.52 and a 200 day simple moving average of $0.86.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $1.20. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. The firm had revenue of $109.16 million during the quarter, compared to the consensus estimate of $45.52 million. Research analysts expect that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Century Therapeutics

Large investors have recently modified their holdings of the stock. Barclays PLC grew its stake in Century Therapeutics by 283.6% in the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock valued at $106,000 after buying an additional 45,797 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Century Therapeutics by 257.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company’s stock valued at $123,000 after buying an additional 51,664 shares in the last quarter. Sei Investments Co. purchased a new position in Century Therapeutics in the 4th quarter valued at approximately $53,000. Geode Capital Management LLC grew its stake in Century Therapeutics by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 991,595 shares of the company’s stock valued at $1,002,000 after buying an additional 23,413 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Century Therapeutics by 146.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,202,885 shares of the company’s stock valued at $1,215,000 after buying an additional 714,685 shares in the last quarter. 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.