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

Piper Sandler reaffirmed their overweight rating on shares of Century Therapeutics (NASDAQ:IPSC) in a report published on Friday, Benzinga reports. They currently have a $9.00 price target on the stock, down from their previous price target of $10.00.

A number of other analysts also recently commented on the company. HC Wainwright reiterated a buy rating and set a $13.00 target price on shares of Century Therapeutics in a research report on Friday, March 15th. Canaccord Genuity Group boosted their target price on Century Therapeutics from $22.00 to $24.00 and gave the stock a buy rating in a research report on Friday, March 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $14.00.

Century Therapeutics Stock Down 6.1 %

IPSC opened at $3.67 on Friday. The firm has a market cap of $237.89 million, a price-to-earnings ratio of -1.60 and a beta of 1.33. Century Therapeutics has a 52 week low of $1.28 and a 52 week high of $5.51. The business’s 50 day moving average is $4.31 and its two-hundred day moving average is $3.08.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Thursday, March 14th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.07. Century Therapeutics had a negative return on equity of 54.73% and a negative net margin of 6,115.12%. The business had revenue of $0.27 million for the quarter, compared to analyst estimates of $1.69 million. Equities analysts expect 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 company’s stock in a transaction on Thursday, March 7th. The stock was 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 directly owns 114,149 shares in the company, valued at $586,725.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 25,509 shares of company stock worth $127,635. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Century Therapeutics

Several institutional investors have recently added to or reduced their stakes in IPSC. Bank of New York Mellon Corp increased its stake in Century Therapeutics by 31.5% during the first quarter. Bank of New York Mellon Corp now owns 43,881 shares of the company’s stock worth $552,000 after acquiring an additional 10,524 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Century Therapeutics during the first quarter worth about $153,000. Rhumbline Advisers acquired a new stake in Century Therapeutics during the first quarter worth about $188,000. BlackRock Inc. increased its stake in Century Therapeutics by 24.3% during the first quarter. BlackRock Inc. now owns 1,028,257 shares of the company’s stock worth $12,946,000 after acquiring an additional 200,834 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Century Therapeutics by 49.6% during the first quarter. Vanguard Group Inc. now owns 819,762 shares of the company’s stock worth $10,320,000 after acquiring an additional 271,760 shares during 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.