Piper Sandler Cuts Century Therapeutics (NASDAQ:IPSC) Price Target to $4.00

Century Therapeutics (NASDAQ:IPSC) had its target price trimmed by Piper Sandler from $12.00 to $4.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently commented on the company. Chardan Capital reduced their price target on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th. HC Wainwright reduced their target price on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $10.00.

Century Therapeutics Trading Up 1.0 %

NASDAQ:IPSC opened at $1.01 on Monday. Century Therapeutics has a 12-month low of $0.95 and a 12-month high of $5.51. The stock’s 50 day simple moving average is $1.31 and its 200-day simple moving average is $1.74. The firm has a market cap of $85.88 million, a P/E ratio of -0.55 and a beta of 1.65.

Century Therapeutics (NASDAQ:IPSC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $0.79 million for the quarter, compared to analyst estimates of $0.47 million. Century Therapeutics had a negative net margin of 4,837.73% and a negative return on equity of 61.66%. During the same period last year, the firm posted ($0.55) EPS. Research analysts forecast that Century Therapeutics will post -1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Therapeutics

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

Century Therapeutics Company Profile

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.