Century Therapeutics (NASDAQ:IPSC) Announces Quarterly Earnings Results

Century Therapeutics (NASDAQ:IPSC) released its quarterly earnings results on Wednesday. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02, Zacks reports. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%.

Century Therapeutics Trading Down 0.9 %

NASDAQ IPSC traded down $0.01 during trading on Wednesday, reaching $0.58. 262,695 shares of the company’s stock were exchanged, compared to its average volume of 366,504. Century Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $5.24. The firm has a market capitalization of $49.57 million, a PE ratio of -0.32 and a beta of 1.75. The company’s fifty day simple moving average is $0.77 and its 200-day simple moving average is $1.18.

Wall Street Analyst Weigh In

IPSC has been the topic of several research analyst reports. Piper Sandler reduced their price objective on Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating on the stock in a research note on Monday, December 30th. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $6.50.

Institutional Investors Weigh In On Century Therapeutics

A hedge fund recently raised its stake in Century Therapeutics stock. Bank of America Corp DE increased its stake in Century Therapeutics, Inc. (NASDAQ:IPSC) by 109.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 66,043 shares of the company’s stock after purchasing an additional 34,466 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of Century Therapeutics worth $67,000 at the end of the most recent reporting period. 50.20% of the stock is 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.