Century Therapeutics (NASDAQ:IPSC) Posts Earnings Results, Beats Estimates By $0.08 EPS

Century Therapeutics (NASDAQ:IPSC) announced its quarterly earnings results on Tuesday. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08, RTT News reports. Century Therapeutics had a negative return on equity of 60.60% and a negative net margin of 6,434.23%. The business had revenue of $0.79 million during the quarter, compared to analysts’ expectations of $0.47 million. During the same quarter last year, the business posted ($0.55) earnings per share.

Century Therapeutics Stock Performance

Century Therapeutics stock traded down $0.03 during midday trading on Friday, reaching $1.43. 155,831 shares of the company were exchanged, compared to its average volume of 261,090. The firm’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $2.23. Century Therapeutics has a 1 year low of $1.14 and a 1 year high of $5.51. The company has a market capitalization of $121.14 million, a price-to-earnings ratio of -0.79 and a beta of 1.41.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. HC Wainwright dropped their price target on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday. Chardan Capital dropped their price target on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Rodman & Renshaw began coverage on Century Therapeutics in a research report on Thursday, August 8th. They set a “buy” rating and a $6.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $11.60.

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.