Century Therapeutics (NASDAQ:IPSC) Issues Earnings Results, Beats Expectations By $0.12 EPS

Century Therapeutics (NASDAQ:IPSC) posted its quarterly earnings results on Thursday. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.12, Zacks reports. The firm had revenue of $0.77 million during the quarter, compared to the consensus estimate of $0.55 million. Century Therapeutics had a negative net margin of 9,742.41% and a negative return on equity of 59.74%.

Century Therapeutics Stock Performance

Shares of NASDAQ:IPSC traded down $0.08 during midday trading on Friday, reaching $1.72. 272,387 shares of the company’s stock traded hands, compared to its average volume of 215,346. The company has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $3.40. Century Therapeutics has a 1 year low of $1.28 and a 1 year high of $5.51. The company has a market cap of $145.34 million, a P/E ratio of -0.78 and a beta of 1.39.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IPSC. Piper Sandler increased their target price on Century Therapeutics from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday, June 17th. Rodman & Renshaw assumed coverage on Century Therapeutics in a research note on Thursday. They issued a “buy” rating and a $6.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Century Therapeutics in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.60.

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.