Century Therapeutics (NASDAQ:IPSC) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Century Therapeutics, Inc. (NASDAQ:IPSC)’s stock price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $1.65 and traded as low as $1.60. Century Therapeutics shares last traded at $1.63, with a volume of 608,756 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of Century Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.75.

Century Therapeutics Price Performance

The company has a market cap of $295.14 million, a P/E ratio of -1.75 and a beta of 1.78. The company’s 50-day moving average price is $1.65 and its 200-day moving average price is $2.07.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings data on Thursday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. On average, equities research analysts predict that Century Therapeutics, Inc. will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Century Therapeutics

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Century Therapeutics during the first quarter worth about $29,000. Quadrant Private Wealth Management LLC boosted its position in Century Therapeutics by 31.0% during the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock valued at $45,000 after purchasing an additional 4,736 shares during the last quarter. State of Wyoming bought a new position in Century Therapeutics in the second quarter valued at approximately $82,000. The Manufacturers Life Insurance Company bought a new position in Century Therapeutics in the second quarter valued at approximately $85,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Century Therapeutics during the 1st quarter worth approximately $108,000. Institutional investors own 50.20% of the company’s stock.

About Century Therapeutics

Century Therapeutics is a biotechnology company developing cell-based therapies for cancer and other serious diseases. Its research focuses on allogeneic treatments, which are designed to be produced from donor cells rather than made separately for each patient. The company uses induced pluripotent stem cell technology to create immune cells, including natural killer cells and T cells, that can be engineered to recognize and attack disease. Its work includes developing cell therapies with genetic modifications intended to improve their activity and persistence.