Century Therapeutics (NASDAQ:IPSC) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Century Therapeutics (NASDAQ:IPSC) announced its earnings results on Wednesday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06), FiscalAI reports.

Century Therapeutics Stock Performance

Shares of NASDAQ:IPSC traded down $0.04 during midday trading on Friday, reaching $1.90. The company had a trading volume of 109,424 shares, compared to its average volume of 1,428,435. Century Therapeutics has a 1-year low of $0.43 and a 1-year high of $3.04. The company has a fifty day simple moving average of $2.20 and a two-hundred day simple moving average of $2.22. The firm has a market cap of $341.76 million, a price-to-earnings ratio of -2.04 and a beta of 1.57.

Hedge Funds Weigh In On Century Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPSC. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Century Therapeutics in the fourth quarter worth $1,829,000. Two Sigma Investments LP grew its stake in Century Therapeutics by 59.2% during the 3rd quarter. Two Sigma Investments LP now owns 911,446 shares of the company’s stock valued at $454,000 after acquiring an additional 338,902 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Century Therapeutics by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 456,115 shares of the company’s stock valued at $454,000 after purchasing an additional 10,806 shares during the period. Jane Street Group LLC purchased a new stake in shares of Century Therapeutics in the second quarter worth approximately $248,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Century Therapeutics by 64.1% during the third quarter. Citadel Advisors LLC now owns 360,825 shares of the company’s stock worth $180,000 after purchasing an additional 140,891 shares during the period. Institutional investors and hedge funds own 50.20% of the company’s stock.

Analyst Ratings Changes

IPSC has been the subject of a number of analyst reports. Mizuho initiated coverage on shares of Century Therapeutics in a research report on Wednesday, May 27th. They issued an “outperform” rating and a $8.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a research report on Thursday, July 2nd. Wall Street Zen downgraded Century Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, HC Wainwright boosted their price target on Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Century Therapeutics presently has an average rating of “Hold” and a consensus target price of $4.75.

About Century Therapeutics

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company’s proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.