Century Therapeutics, Inc. (NASDAQ:IPSC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Century Therapeutics, Inc. (NASDAQ:IPSC) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $11.60.

IPSC has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Century Therapeutics in a research report on Tuesday, June 4th. Rodman & Renshaw began coverage on shares of Century Therapeutics in a report on Thursday, August 8th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Piper Sandler upped their price objective on shares of Century Therapeutics from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday, June 17th.

Hedge Funds Weigh In On Century Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Avidity Partners Management LP grew its position in shares of Century Therapeutics by 23.4% in the 4th quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock worth $4,499,000 after buying an additional 256,500 shares during the period. Vanguard Group Inc. grew its holdings in Century Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,138,653 shares of the company’s stock worth $4,760,000 after purchasing an additional 14,000 shares during the period. Federated Hermes Inc. grew its holdings in Century Therapeutics by 0.4% in the fourth quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock worth $2,053,000 after purchasing an additional 2,500 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Century Therapeutics by 191.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 293,941 shares of the company’s stock valued at $1,229,000 after purchasing an additional 192,915 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Century Therapeutics by 6.1% during the second quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock valued at $422,000 after purchasing an additional 9,500 shares during the last quarter. Institutional investors own 50.20% of the company’s stock.

Century Therapeutics Stock Down 5.5 %

Shares of Century Therapeutics stock opened at $1.56 on Thursday. The company’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $3.35. Century Therapeutics has a 12-month low of $1.28 and a 12-month high of $5.51. The firm has a market cap of $131.82 million, a PE ratio of -0.71 and a beta of 1.39.

Century Therapeutics (NASDAQ:IPSC) last posted its earnings results on Thursday, August 8th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.12. Century Therapeutics had a negative net margin of 9,742.41% and a negative return on equity of 59.74%. The company had revenue of $0.77 million during the quarter, compared to analyst estimates of $0.55 million. As a group, sell-side analysts expect that Century Therapeutics will post -1.94 earnings per share for the current fiscal year.

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.