Guggenheim Lowers Century Therapeutics (NASDAQ:IPSC) Price Target to $5.00

Century Therapeutics (NASDAQ:IPSC) had its target price trimmed by Guggenheim from $12.00 to $5.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler dropped their price target on Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating on the stock in a research report on Thursday. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Century Therapeutics in a report on Wednesday, January 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $5.80.

Century Therapeutics Price Performance

Century Therapeutics stock opened at $0.56 on Friday. The stock has a market cap of $47.19 million, a price-to-earnings ratio of -0.30 and a beta of 1.75. The firm has a 50-day moving average of $0.74 and a two-hundred day moving average of $1.16. Century Therapeutics has a 1 year low of $0.52 and a 1 year high of $4.78.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings results on Wednesday, March 19th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. The firm had revenue of $4.18 million during the quarter, compared to analyst estimates of $0.67 million. Research analysts expect that Century Therapeutics will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On Century Therapeutics

A number of institutional investors have recently added to or reduced their stakes in IPSC. Casdin Capital LLC lifted its position in shares of Century Therapeutics by 61.6% during the fourth quarter. Casdin Capital LLC now owns 5,190,506 shares of the company’s stock valued at $5,242,000 after buying an additional 1,978,190 shares during the last quarter. Millennium Management LLC lifted its position in Century Therapeutics by 1,041.8% during the fourth quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock valued at $1,623,000 after acquiring an additional 1,466,415 shares during the last quarter. Renaissance Technologies LLC lifted its position in Century Therapeutics by 146.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,202,885 shares of the company’s stock valued at $1,215,000 after acquiring an additional 714,685 shares during the last quarter. Geode Capital Management LLC boosted its stake in Century Therapeutics by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 991,595 shares of the company’s stock valued at $1,002,000 after acquiring an additional 23,413 shares in the last quarter. Finally, State Street Corp grew its holdings in Century Therapeutics by 7.4% in the third quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after purchasing an additional 57,323 shares during the last quarter. 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.