Chardan Capital Has Lowered Expectations for Century Therapeutics (NASDAQ:IPSC) Stock Price

Century Therapeutics (NASDAQ:IPSC) had its target price decreased by research analysts at Chardan Capital from $17.00 to $11.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock.

A number of other research firms also recently weighed in on IPSC. Rodman & Renshaw assumed coverage on Century Therapeutics in a report on Thursday, August 8th. They issued a “buy” rating and a $6.00 price objective for the company. HC Wainwright decreased their price target on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $11.60.

Century Therapeutics Stock Performance

Shares of NASDAQ:IPSC traded up $0.06 during midday trading on Thursday, hitting $1.39. 525,941 shares of the stock were exchanged, compared to its average volume of 334,993. The business’s 50-day moving average price is $1.52 and its 200 day moving average price is $2.24. Century Therapeutics has a 12 month low of $1.14 and a 12 month high of $5.51. The stock has a market capitalization of $117.76 million, a price-to-earnings ratio of -0.68 and a beta of 1.41.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.08. Century Therapeutics had a negative net margin of 6,434.23% and a negative return on equity of 60.60%. The business had revenue of $0.79 million for the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the company earned ($0.55) EPS. As a group, sell-side analysts expect that Century Therapeutics will post -1.8 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IPSC. Jacobs Levy Equity Management Inc. lifted its position in shares of Century Therapeutics by 191.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock valued at $1,229,000 after acquiring an additional 192,915 shares during the period. Bank of New York Mellon Corp increased its position in Century Therapeutics by 110.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after buying an additional 78,088 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Century Therapeutics by 141.7% during the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after acquiring an additional 44,155 shares in the last quarter. Rhumbline Advisers raised its position in shares of 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 purchasing an additional 18,828 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Century Therapeutics in the third quarter valued at $27,000. 50.20% of the stock is owned by 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.