Century Therapeutics (NASDAQ:IPSC) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

Century Therapeutics Price Performance

IPSC stock traded down $0.01 during mid-day trading on Wednesday, hitting $0.58. 262,695 shares of the stock were exchanged, compared to its average volume of 366,270. The business has a fifty day moving average price of $0.77 and a 200 day moving average price of $1.18. Century Therapeutics has a 12 month low of $0.55 and a 12 month high of $5.24. The stock has a market capitalization of $49.57 million, a price-to-earnings ratio of -0.32 and a beta of 1.75.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Century Therapeutics in a report on Wednesday, January 22nd. Piper Sandler decreased their price objective on shares of Century Therapeutics from $12.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, December 30th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Century Therapeutics in a research note on Wednesday, January 22nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $6.50.

Hedge Funds Weigh In On Century Therapeutics

An institutional investor recently raised its position in Century Therapeutics stock. Bank of America Corp DE raised its holdings in shares of Century Therapeutics, Inc. (NASDAQ:IPSC) by 109.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,043 shares of the company’s stock after acquiring an additional 34,466 shares during the period. Bank of America Corp DE owned about 0.08% of Century Therapeutics worth $67,000 at the end of the most recent reporting period. Hedge funds and other 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.