Century Therapeutics (NASDAQ:IPSC) Trading Down 4.3% – Here’s What Happened

Century Therapeutics, Inc. (NASDAQ:IPSC)’s share price was down 4.3% during trading on Wednesday . The stock traded as low as $1.33 and last traded at $1.35. Approximately 787,408 shares were traded during trading, an increase of 162% from the average daily volume of 300,572 shares. The stock had previously closed at $1.41.

Analyst Ratings Changes

Several equities analysts recently commented on IPSC shares. HC Wainwright reduced their price target on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Chardan Capital reduced their price target on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Century Therapeutics presently has an average rating of “Buy” and an average price target of $11.60.

Century Therapeutics Trading Down 2.4 %

The stock has a 50-day simple moving average of $1.41 and a 200-day simple moving average of $1.93. The company has a market capitalization of $103.74 million, a price-to-earnings ratio of -0.66 and a beta of 1.65.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. The business had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.47 million. During the same period in the previous year, the business earned ($0.55) EPS. On average, research analysts forecast that Century Therapeutics, Inc. will post -1.63 EPS for the current year.

Institutional Investors Weigh In On Century Therapeutics

A number of institutional investors have recently made changes to their positions in IPSC. Vanguard Group Inc. increased its holdings in shares of Century Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock valued at $4,760,000 after acquiring an additional 14,000 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Century Therapeutics by 110.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after buying an additional 78,088 shares during the last quarter. Rhumbline Advisers grew its stake in Century Therapeutics by 56.0% during the 2nd quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock worth $134,000 after buying an additional 18,828 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Century Therapeutics by 141.7% during the 2nd 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 last quarter. Finally, Renaissance Technologies LLC grew its stake in Century Therapeutics by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after buying an additional 9,500 shares during the last quarter. 50.20% of the stock is currently 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.