HC Wainwright Lowers Century Therapeutics (NASDAQ:IPSC) Price Target to $5.00

Century Therapeutics (NASDAQ:IPSC) had its price objective cut by analysts at HC Wainwright from $9.00 to $5.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 275.94% from the company’s previous close.

Separately, Rodman & Renshaw started coverage on Century Therapeutics in a research report on Thursday, August 8th. They set a “buy” rating and a $6.00 price target for the company.

Century Therapeutics Stock Performance

IPSC stock opened at $1.33 on Wednesday. The company has a market capitalization of $112.68 million, a PE ratio of -0.66 and a beta of 1.41. Century Therapeutics has a one year low of $1.14 and a one year high of $5.51. The company’s 50 day moving average price is $1.54 and its two-hundred day moving average price is $2.25.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.12. Century Therapeutics had a negative net margin of 6,434.23% and a negative return on equity of 60.60%. The business had revenue of $0.77 million during the quarter, compared to the consensus estimate of $0.55 million. On average, research analysts predict that Century Therapeutics will post -1.8 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Century Therapeutics during the third quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Century Therapeutics in the first quarter worth $47,000. Rhumbline Advisers grew 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 worth $134,000 after acquiring an additional 18,828 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Century Therapeutics by 141.7% during the second quarter. Dimensional Fund Advisors LP now owns 75,315 shares of the company’s stock valued at $192,000 after acquiring an additional 44,155 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Century Therapeutics by 110.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock worth $380,000 after purchasing an additional 78,088 shares during the last quarter. 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.