Century Therapeutics (NASDAQ:IPSC) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Century Therapeutics (NASDAQ:IPSC) announced its quarterly earnings results on Wednesday. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.02, Zacks reports. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. The company had revenue of $4.18 million during the quarter, compared to analyst estimates of $0.67 million.

Century Therapeutics Trading Down 0.9 %

IPSC opened at $0.58 on Thursday. The stock has a market capitalization of $49.57 million, a P/E ratio of -0.32 and a beta of 1.75. Century Therapeutics has a 12 month low of $0.55 and a 12 month high of $5.24. The firm’s fifty day simple moving average is $0.76 and its 200 day simple moving average is $1.17.

Institutional Investors Weigh In On Century Therapeutics

An institutional investor recently raised its position in Century Therapeutics stock. Bank of America Corp DE increased its position in Century Therapeutics, Inc. (NASDAQ:IPSC) by 109.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,043 shares of the company’s stock after purchasing an additional 34,466 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of Century Therapeutics worth $67,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 50.20% of the company’s stock.

Wall Street Analyst Weigh In

IPSC has been the subject of several research analyst reports. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a report on Wednesday, January 22nd. Piper Sandler cut their price objective on shares of Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, December 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Century Therapeutics in a research report on Wednesday, January 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.50.

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.