Piper Sandler Has Lowered Expectations for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its price objective cut by Piper Sandler from $4.00 to $2.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently commented on IPSC. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Guggenheim restated a “buy” rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $5.80.

Century Therapeutics Stock Performance

Shares of NASDAQ IPSC opened at $0.56 on Thursday. The stock has a market cap of $47.19 million, a price-to-earnings ratio of -0.30 and a beta of 1.75. The business has a 50 day simple moving average of $0.74 and a 200 day simple moving average of $1.16. Century Therapeutics has a 52 week low of $0.52 and a 52 week high of $4.50.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings results on Wednesday, March 19th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.02. The business had revenue of $4.18 million during 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%. On average, analysts predict that Century Therapeutics will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Century Therapeutics

Large investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in shares of Century Therapeutics during the fourth quarter worth about $36,000. Jane Street Group LLC boosted its stake in shares of Century Therapeutics by 166.2% during the 4th quarter. Jane Street Group LLC now owns 48,036 shares of the company’s stock worth $49,000 after acquiring an additional 29,992 shares during the period. Two Sigma Advisers LP bought a new position in shares of Century Therapeutics during the 4th quarter worth approximately $52,000. Sei Investments Co. acquired a new stake in Century Therapeutics during the 4th quarter worth approximately $53,000. Finally, Two Sigma Investments LP acquired a new stake in Century Therapeutics during the 4th quarter worth approximately $67,000. Institutional investors and hedge funds 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.