Century Therapeutics (NASDAQ:IPSC) Announces Quarterly Earnings Results

Century Therapeutics (NASDAQ:IPSC) issued its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04, FiscalAI reports.

Century Therapeutics Stock Down 1.7%

NASDAQ:IPSC traded down $0.04 on Friday, reaching $2.34. The stock had a trading volume of 749,367 shares, compared to its average volume of 1,552,453. The company has a market capitalization of $422.02 million, a P/E ratio of -2.05 and a beta of 1.55. Century Therapeutics has a 1-year low of $0.44 and a 1-year high of $3.04. The stock has a fifty day moving average price of $2.33 and a 200-day moving average price of $1.64.

Insider Buying and Selling

In other Century Therapeutics news, insider Gregory Russotti sold 10,076 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $2.55, for a total value of $25,693.80. Following the transaction, the insider directly owned 515,427 shares in the company, valued at $1,314,338.85. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 17,862 shares of company stock valued at $45,488 in the last quarter. 4.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Century Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in Century Therapeutics in the first quarter valued at about $29,000. Quadrant Private Wealth Management LLC boosted its position in Century Therapeutics by 31.0% in the first quarter. Quadrant Private Wealth Management LLC now owns 20,022 shares of the company’s stock valued at $45,000 after buying an additional 4,736 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Century Therapeutics in the second quarter worth about $25,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Century Therapeutics during the first quarter valued at approximately $108,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Century Therapeutics in the first quarter valued at approximately $111,000. 50.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of Century Therapeutics in a research report on Wednesday, February 25th. They set a “buy” rating on the stock. HC Wainwright lifted their target price on shares of Century Therapeutics from $2.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Leerink Partners set a $2.00 target price on shares of Century Therapeutics and gave the company a “market perform” rating in a research report on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Century Therapeutics in a research report on Monday, April 6th. Finally, Piper Sandler lifted their target price on shares of Century Therapeutics from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.25.

Century Therapeutics Company Profile

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company’s proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.