Century Therapeutics (NASDAQ:IPSC) Price Target Cut to $5.00 by Analysts at Guggenheim

Century Therapeutics (NASDAQ:IPSC) had its target price decreased by Guggenheim from $12.00 to $5.00 in a research note published on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on IPSC. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Century Therapeutics in a report on Wednesday, January 22nd. Piper Sandler decreased their price target 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Century Therapeutics currently has an average rating of “Buy” and a consensus target price of $5.80.

Century Therapeutics Trading Up 0.9 %

Shares of Century Therapeutics stock opened at $0.56 on Friday. The firm has a market cap of $47.19 million, a PE ratio of -0.30 and a beta of 1.75. The stock has a 50 day moving average of $0.74 and a 200 day moving average of $1.15. Century Therapeutics has a 12 month low of $0.52 and a 12 month high of $4.50.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. The business had revenue of $4.18 million for the quarter, compared to the consensus estimate of $0.67 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. As a group, equities research analysts forecast that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IPSC. 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 worth $5,242,000 after acquiring an additional 1,978,190 shares during the last quarter. Millennium Management LLC boosted its stake in Century Therapeutics by 1,041.8% in the 4th quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock worth $1,623,000 after purchasing an additional 1,466,415 shares in the last quarter. Renaissance Technologies LLC grew its position in Century Therapeutics by 146.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,202,885 shares of the company’s stock worth $1,215,000 after purchasing an additional 714,685 shares during the last quarter. Geode Capital Management LLC increased its stake in Century Therapeutics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 991,595 shares of the company’s stock valued at $1,002,000 after purchasing an additional 23,413 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Century Therapeutics by 7.4% in the third quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after buying an additional 57,323 shares during the last quarter. 50.20% of the stock is owned by institutional investors and hedge funds.

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.