Rodman & Renshaw Begins Coverage on Century Therapeutics (NASDAQ:IPSC)

Rodman & Renshaw began coverage on shares of Century Therapeutics (NASDAQ:IPSC) in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $6.00 target price on the stock.

A number of other equities research analysts have also recently commented on IPSC. Piper Sandler upped their target price on shares of Century Therapeutics from $9.00 to $12.00 and gave the company an overweight rating in a report on Monday, June 17th. HC Wainwright reaffirmed a buy rating and set a $11.00 price objective on shares of Century Therapeutics in a research note on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $11.60.

Century Therapeutics Stock Down 4.4 %

IPSC traded down $0.08 during trading on Thursday, hitting $1.72. 272,387 shares of the stock were exchanged, compared to its average volume of 215,346. Century Therapeutics has a 1-year low of $1.28 and a 1-year high of $5.51. The stock has a fifty day moving average price of $2.58 and a two-hundred day moving average price of $3.40. The firm has a market capitalization of $145.34 million, a P/E ratio of -0.78 and a beta of 1.39.

Century Therapeutics (NASDAQ:IPSC) last announced its earnings results on Thursday, May 9th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.05. The business had revenue of $0.86 million for the quarter, compared to analysts’ expectations of $0.30 million. Century Therapeutics had a negative net margin of 9,742.41% and a negative return on equity of 59.74%. Analysts predict that Century Therapeutics will post -1.94 EPS for the current year.

Hedge Funds Weigh In On Century Therapeutics

A number of large investors have recently modified their holdings of the business. Abel Hall LLC purchased a new position in Century Therapeutics in the fourth quarter worth $33,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Century Therapeutics in the 1st quarter valued at about $47,000. Rhumbline Advisers lifted its stake in shares of Century Therapeutics by 56.0% in the second quarter. Rhumbline Advisers now owns 52,466 shares of the company’s stock valued at $134,000 after purchasing an additional 18,828 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Century Therapeutics by 141.7% during the second 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Century Therapeutics by 110.1% during the second 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 period. 50.20% of the stock is owned by hedge funds and other 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.