Century Therapeutics (NASDAQ:IPSC) Releases Earnings Results, Beats Estimates By $0.04 EPS

Century Therapeutics (NASDAQ:IPSC) released its quarterly earnings results on Thursday. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04, FiscalAI reports.

Century Therapeutics Trading Down 6.2%

Shares of NASDAQ:IPSC traded down $0.16 during mid-day trading on Friday, reaching $2.35. The stock had a trading volume of 678,994 shares, compared to its average volume of 1,856,037. The firm has a 50 day simple moving average of $2.06 and a two-hundred day simple moving average of $1.10. Century Therapeutics has a twelve month low of $0.34 and a twelve month high of $3.04. The firm has a market cap of $204.96 million, a PE ratio of -7.33 and a beta of 1.70.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TD Cowen assumed coverage on Century Therapeutics in a research note on Wednesday, February 25th. They issued a “buy” rating for the company. Wall Street Zen upgraded Century Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Piper Sandler upped 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. Zacks Research upgraded shares of Century Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Leerink Partners set a $2.00 price objective on shares of Century Therapeutics and gave the company a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Century Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $3.80.

Insider Buying and Selling at Century Therapeutics

In other news, insider Chad Cowan purchased 58,060 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average price of $0.85 per share, with a total value of $49,351.00. Following the acquisition, the insider directly owned 1,045,087 shares of the company’s stock, valued at approximately $888,323.95. This represents a 5.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Century Therapeutics

Several large investors have recently modified their holdings of IPSC. Bank of America Corp DE raised its position in shares of Century Therapeutics by 109.1% during the fourth quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after purchasing an additional 34,466 shares during the period. AQR Capital Management LLC increased its stake in Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after purchasing an additional 86,875 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Century Therapeutics by 26.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,635 shares of the company’s stock worth $86,000 after buying an additional 38,052 shares during the period. Acadian Asset Management LLC raised its holdings in Century Therapeutics by 101.2% during the 1st quarter. Acadian Asset Management LLC now owns 284,229 shares of the company’s stock worth $133,000 after buying an additional 142,953 shares during the period. Finally, Prudential Financial Inc. bought a new position in Century Therapeutics in the second quarter valued at approximately $25,000. 50.20% of the stock is currently owned by institutional investors.

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.