HC Wainwright Cuts Century Therapeutics (NASDAQ:IPSC) Price Target to $5.00

Century Therapeutics (NASDAQ:IPSC) had its price target reduced by stock analysts at HC Wainwright from $9.00 to $5.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 275.94% from the company’s previous close.

Separately, Rodman & Renshaw assumed coverage on shares of Century Therapeutics in a research report on Thursday, August 8th. They set a “buy” rating and a $6.00 target price for the company.

Century Therapeutics Price Performance

Shares of IPSC stock opened at $1.33 on Wednesday. The company has a market cap of $112.68 million, a P/E ratio of -0.66 and a beta of 1.41. The firm has a 50-day moving average of $1.54 and a 200-day moving average of $2.25. Century Therapeutics has a one year low of $1.14 and a one year high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Thursday, August 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.12. The firm had revenue of $0.77 million during the quarter, compared to analyst estimates of $0.55 million. Century Therapeutics had a negative return on equity of 60.60% and a negative net margin of 6,434.23%. As a group, research analysts expect that Century Therapeutics will post -1.8 earnings per share for the current fiscal year.

Institutional Trading of Century Therapeutics

A number of institutional investors have recently added to or reduced their stakes in IPSC. Mirae Asset Global Investments Co. Ltd. bought a new position in Century Therapeutics in the 1st quarter valued at $47,000. Vanguard Group Inc. grew its position in Century Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock worth $4,760,000 after buying an additional 14,000 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Century Therapeutics by 191.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock worth $1,229,000 after acquiring an additional 192,915 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 acquiring an additional 78,088 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Century Therapeutics by 56.0% during the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after acquiring an additional 18,828 shares during the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.

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.