HC Wainwright Lowers Century Therapeutics (NASDAQ:IPSC) Price Target to $2.00

Century Therapeutics (NASDAQ:IPSC) had its price objective reduced by stock analysts at HC Wainwright from $5.00 to $2.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 325.80% from the company’s current price.

IPSC has been the subject of several other reports. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a report on Friday, March 28th. Piper Sandler cut their target price on shares of Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, Chardan Capital reduced their target price on Century Therapeutics from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $4.40.

Century Therapeutics Stock Up 4.0 %

NASDAQ IPSC opened at $0.47 on Thursday. The stock has a market cap of $40.42 million, a P/E ratio of -0.25 and a beta of 1.75. Century Therapeutics has a twelve month low of $0.45 and a twelve month high of $4.43. The company’s 50-day simple moving average is $0.68 and its 200 day simple moving average is $1.10.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings results on Wednesday, March 19th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. The firm had revenue of $4.18 million for the quarter, compared to analysts’ expectations of $0.67 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. Research analysts anticipate that Century Therapeutics will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Casdin Capital LLC grew its stake in shares of Century Therapeutics by 61.6% during the fourth quarter. Casdin Capital LLC now owns 5,190,506 shares of the company’s stock valued at $5,242,000 after purchasing an additional 1,978,190 shares during the last quarter. Millennium Management LLC lifted its holdings in Century Therapeutics by 1,041.8% during the 4th quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock worth $1,623,000 after buying an additional 1,466,415 shares in the last quarter. Renaissance Technologies LLC boosted its position 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 during the period. Finally, State Street Corp raised its position in shares of Century Therapeutics by 7.4% during the third quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after acquiring an additional 57,323 shares during the last quarter. 50.20% of the stock is owned by institutional investors.

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.