Century Therapeutics (NASDAQ:IPSC) Price Target Cut to $11.00 by Analysts at Chardan Capital

Century Therapeutics (NASDAQ:IPSC) had its price objective lowered by Chardan Capital from $17.00 to $11.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

IPSC has been the topic of a number of other research reports. Rodman & Renshaw assumed coverage on Century Therapeutics in a research report on Thursday, August 8th. They set a “buy” rating and a $6.00 price target on the stock. HC Wainwright lowered their price target on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Century Therapeutics presently has a consensus rating of “Buy” and an average price target of $11.60.

Century Therapeutics Trading Down 0.7 %

Shares of IPSC stock traded down $0.01 during mid-day trading on Thursday, reaching $1.45. The stock had a trading volume of 236,920 shares, compared to its average volume of 261,464. The business’s fifty day moving average is $1.52 and its 200-day moving average is $2.23. The firm has a market cap of $122.84 million, a price-to-earnings ratio of -0.79 and a beta of 1.41. Century Therapeutics has a 1-year low of $1.14 and a 1-year high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08. 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 for the quarter, compared to analyst estimates of $0.47 million. During the same period in the prior year, the company earned ($0.55) earnings per share. On average, analysts forecast that Century Therapeutics will post -1.8 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in IPSC. SG Americas Securities LLC acquired a new stake in shares of Century Therapeutics in the third quarter valued at approximately $27,000. Renaissance Technologies LLC increased its stake in Century Therapeutics by 6.1% during the second 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 last quarter. Dimensional Fund Advisors LP increased its stake in Century Therapeutics by 141.7% during the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock worth $192,000 after acquiring an additional 44,155 shares during the last quarter. Rhumbline Advisers increased its stake in Century Therapeutics by 56.0% during the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock worth $134,000 after acquiring an additional 18,828 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Century Therapeutics by 110.1% during the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after acquiring an additional 78,088 shares during the last quarter. Hedge funds and other institutional investors 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.