Century Therapeutics (NASDAQ:IPSC) Given New $4.00 Price Target at Piper Sandler

Century Therapeutics (NASDAQ:IPSC) had its target price cut by stock analysts at Piper Sandler from $12.00 to $4.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 290.24% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. HC Wainwright reduced their target price on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Chardan Capital lowered their target price on shares of Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $10.00.

Century Therapeutics Stock Performance

Shares of IPSC traded down $0.02 during trading hours on Monday, hitting $1.03. The stock had a trading volume of 147,321 shares, compared to its average volume of 319,537. The firm has a market capitalization of $87.15 million, a price-to-earnings ratio of -0.55 and a beta of 1.65. The firm has a 50-day moving average price of $1.33 and a 200 day moving average price of $1.77. Century Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.08. The company had revenue of $0.79 million during the quarter, compared to analyst estimates of $0.47 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. During the same quarter in the previous year, the firm earned ($0.55) EPS. As a group, analysts predict that Century Therapeutics will post -1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Century Therapeutics by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock worth $1,656,000 after purchasing an additional 32,614 shares during the period. State Street Corp grew its position in 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 buying an additional 57,323 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Century Therapeutics during the 3rd quarter worth approximately $284,000. Renaissance Technologies LLC grew its holdings in shares of Century Therapeutics by 6.1% in the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after acquiring an additional 9,500 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Century Therapeutics by 110.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after purchasing an additional 78,088 shares in the last quarter. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

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.