Century Therapeutics (NASDAQ:IPSC) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reissued their overweight rating on shares of Century Therapeutics (NASDAQ:IPSC) in a report released on Friday morning, Benzinga reports. Piper Sandler currently has a $9.00 target price on the stock, down from their prior target price of $10.00.

A number of other research analysts have also commented on IPSC. HC Wainwright reiterated a buy rating and issued a $13.00 price target on shares of Century Therapeutics in a research note on Friday, March 15th. Canaccord Genuity Group upped their price target on shares of Century Therapeutics from $22.00 to $24.00 and gave the stock a buy rating in a report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Century Therapeutics currently has an average rating of Moderate Buy and a consensus target price of $14.00.

Century Therapeutics Stock Performance

IPSC opened at $3.67 on Friday. The firm’s fifty day moving average is $4.31 and its two-hundred day moving average is $3.08. The firm has a market cap of $237.89 million, a PE ratio of -1.60 and a beta of 1.33. Century Therapeutics has a twelve month low of $1.28 and a twelve month high of $5.51.

Century Therapeutics (NASDAQ:IPSC) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.07. The business had revenue of $0.27 million for the quarter, compared to analyst estimates of $1.69 million. Century Therapeutics had a negative net margin of 6,115.12% and a negative return on equity of 54.73%. Equities analysts forecast that Century Therapeutics will post -2.02 EPS for the current fiscal year.

Insider Activity at Century Therapeutics

In related news, insider Adrienne Farid sold 22,831 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $5.14, for a total value of $117,351.34. Following the completion of the transaction, the insider now owns 114,149 shares of the company’s stock, valued at approximately $586,725.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 25,509 shares of company stock valued at $127,635 in the last quarter. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Century Therapeutics by 14.4% during the second quarter. BlackRock Inc. now owns 1,615,174 shares of the company’s stock worth $5,104,000 after buying an additional 203,725 shares during the period. Avidity Partners Management LP increased its position in shares of Century Therapeutics by 23.4% during the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock worth $4,499,000 after buying an additional 256,500 shares during the period. Vanguard Group Inc. increased its position in shares of Century Therapeutics by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 1,124,653 shares of the company’s stock worth $3,734,000 after buying an additional 5,483 shares during the period. Federated Hermes Inc. increased its position in shares of Century Therapeutics by 0.4% during the fourth quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock worth $2,053,000 after buying an additional 2,500 shares during the period. Finally, State Street Corp grew its holdings in Century Therapeutics by 23.3% in the second quarter. State Street Corp now owns 454,791 shares of the company’s stock worth $1,437,000 after purchasing an additional 85,940 shares during the period. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.