Piper Sandler Has Lowered Expectations for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its price target decreased by Piper Sandler from $12.00 to $4.00 in a research note released on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

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

Century Therapeutics Stock Up 1.0 %

IPSC opened at $1.01 on Monday. The firm has a market cap of $85.88 million, a P/E ratio of -0.55 and a beta of 1.65. The business’s fifty day simple moving average is $1.31 and its 200 day simple moving average is $1.74. Century Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.08. The company had revenue of $0.79 million for the quarter, compared to analysts’ expectations 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 period last year, the company earned ($0.55) EPS. As a group, equities analysts expect that Century Therapeutics will post -1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Therapeutics

A number of large investors have recently bought and sold shares of IPSC. Renaissance Technologies LLC raised 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 purchasing an additional 9,500 shares during the period. SG Americas Securities LLC acquired a new stake in Century Therapeutics during the 3rd quarter worth approximately $27,000. Rhumbline Advisers raised its holdings in Century Therapeutics by 56.0% in the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after buying an additional 18,828 shares during the period. Geode Capital Management LLC lifted its position in Century Therapeutics by 3.5% during the third quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock valued at $1,656,000 after buying an additional 32,614 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew 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 buying an additional 44,155 shares during the period. 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.