Century Therapeutics (NASDAQ:IPSC) Given New $7.00 Price Target at Chardan Capital

Century Therapeutics (NASDAQ:IPSC) had its price target dropped by equities research analysts at Chardan Capital from $11.00 to $7.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other equities research analysts have also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Century Therapeutics in a report on Wednesday, January 22nd. Guggenheim decreased their target price on Century Therapeutics from $12.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Sandler dropped their price target on Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating for the company in a research report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.00.

Century Therapeutics Price Performance

Shares of IPSC stock opened at $0.56 on Monday. Century Therapeutics has a 1-year low of $0.52 and a 1-year high of $4.50. The company has a market cap of $47.19 million, a price-to-earnings ratio of -0.30 and a beta of 1.75. The stock has a 50 day simple moving average of $0.74 and a 200-day simple moving average of $1.15.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02. The company had revenue of $4.18 million during the quarter, compared to analysts’ expectations of $0.67 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. Analysts anticipate that Century Therapeutics will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IPSC. State Street Corp lifted its position in Century Therapeutics by 7.4% during the third quarter. State Street Corp now owns 836,914 shares of the company’s stock worth $1,431,000 after buying an additional 57,323 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Century Therapeutics in the 3rd quarter worth $284,000. Barclays PLC raised its holdings in shares of Century Therapeutics by 283.6% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the company’s stock worth $106,000 after acquiring an additional 45,797 shares during the period. Geode Capital Management LLC boosted its position in shares of Century Therapeutics by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock valued at $1,656,000 after acquiring an additional 32,614 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Century Therapeutics by 257.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,721 shares of the company’s stock valued at $123,000 after acquiring an additional 51,664 shares during the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.