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

Century Therapeutics (NASDAQ:IPSC) had its price objective decreased by analysts at Piper Sandler from $12.00 to $4.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 296.04% from the stock’s current price.

A number of other analysts have also issued reports on IPSC. Chardan Capital lowered their price target on Century Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright cut their target price on Century Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $10.00.

Century Therapeutics Price Performance

Shares of Century Therapeutics stock opened at $1.01 on Monday. Century Therapeutics has a 1 year low of $0.95 and a 1 year high of $5.51. The stock has a market cap of $85.88 million, a PE ratio of -0.55 and a beta of 1.65. The firm has a fifty day moving average price of $1.31 and a 200 day moving average price of $1.74.

Century Therapeutics (NASDAQ:IPSC) last issued its earnings results on Tuesday, November 5th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $0.79 million for the quarter, compared to the consensus estimate of $0.47 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. During the same quarter in the prior year, the business earned ($0.55) earnings per share. As a group, equities analysts expect that Century Therapeutics will post -1.63 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Century Therapeutics by 3.5% in the third quarter. Geode Capital Management LLC now owns 968,182 shares of the company’s stock valued at $1,656,000 after purchasing an additional 32,614 shares in the last quarter. State Street Corp boosted its position in Century Therapeutics by 7.4% in the 3rd quarter. State Street Corp now owns 836,914 shares of the company’s stock valued at $1,431,000 after buying an additional 57,323 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Century Therapeutics during the third quarter worth $284,000. Renaissance Technologies LLC increased its position in shares of Century Therapeutics by 6.1% during the second quarter. Renaissance Technologies LLC now owns 165,500 shares of the company’s stock worth $422,000 after acquiring an additional 9,500 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Century Therapeutics by 110.1% in the second quarter. Bank of New York Mellon Corp now owns 149,000 shares of the company’s stock valued at $380,000 after acquiring an additional 78,088 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors and hedge funds.

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.