Century Therapeutics (NASDAQ:IPSC) Price Target Cut to $2.00 by Analysts at Piper Sandler

Century Therapeutics (NASDAQ:IPSC) had its price target trimmed by Piper Sandler from $4.00 to $2.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on IPSC. Guggenheim reissued a “buy” rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $6.00.

Century Therapeutics Price Performance

IPSC opened at $0.55 on Thursday. The company has a market cap of $46.77 million, a price-to-earnings ratio of -0.30 and a beta of 1.75. The firm has a 50 day simple moving average of $0.75 and a 200 day simple moving average of $1.17. Century Therapeutics has a fifty-two week low of $0.52 and a fifty-two week high of $5.24.

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

Institutional Investors Weigh In On Century Therapeutics

Large investors have recently bought and sold shares of the company. Casdin Capital LLC increased 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 worth $5,242,000 after acquiring an additional 1,978,190 shares in the last quarter. Millennium Management LLC increased its position in shares of Century Therapeutics by 1,041.8% during the fourth quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock worth $1,623,000 after acquiring an additional 1,466,415 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Century Therapeutics by 146.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,202,885 shares of the company’s stock worth $1,215,000 after acquiring an additional 714,685 shares in the last quarter. Deutsche Bank AG increased its position in shares of Century Therapeutics by 890.7% during the fourth quarter. Deutsche Bank AG now owns 193,368 shares of the company’s stock worth $195,000 after acquiring an additional 173,849 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Century Therapeutics during the third quarter worth $284,000. Institutional investors own 50.20% of the company’s stock.

Century Therapeutics Company Profile

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.