Guggenheim Lowers Century Therapeutics (NASDAQ:IPSC) Price Target to $5.00

Century Therapeutics (NASDAQ:IPSC) had its target price cut by investment analysts at Guggenheim from $12.00 to $5.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Other equities analysts have also issued reports about the company. Piper Sandler reduced their target price on Century Therapeutics from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Century Therapeutics in a report on Wednesday, January 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Century Therapeutics has a consensus rating of “Buy” and an average target price of $5.80.

Century Therapeutics Stock Up 0.9 %

IPSC stock opened at $0.56 on Friday. The firm has a market cap of $47.19 million, a PE ratio of -0.30 and a beta of 1.75. The business has a 50 day moving average of $0.74 and a 200-day moving average of $1.16. Century Therapeutics has a 12-month low of $0.52 and a 12-month high of $4.50.

Century Therapeutics (NASDAQ:IPSC) last released its earnings results on Wednesday, March 19th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.02. The company had revenue of $4.18 million during the quarter, compared to analyst estimates of $0.67 million. Century Therapeutics had a negative return on equity of 61.66% and a negative net margin of 4,837.73%. On average, research analysts expect that Century Therapeutics will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On Century Therapeutics

A number of large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its holdings in shares of Century Therapeutics by 56.0% in the fourth quarter. Squarepoint Ops LLC now owns 164,871 shares of the company’s stock worth $167,000 after acquiring an additional 59,174 shares during the period. Two Sigma Investments LP bought a new position in shares of Century Therapeutics in the fourth quarter worth $67,000. Two Sigma Advisers LP bought a new position in shares of Century Therapeutics in the fourth quarter worth $52,000. Nuveen Asset Management LLC boosted its holdings in shares of Century Therapeutics by 48.9% in the fourth quarter. Nuveen Asset Management LLC now owns 157,311 shares of the company’s stock worth $159,000 after acquiring an additional 51,661 shares during the period. Finally, Millennium Management LLC raised its position in shares of Century Therapeutics by 1,041.8% in the fourth quarter. Millennium Management LLC now owns 1,607,174 shares of the company’s stock worth $1,623,000 after buying an additional 1,466,415 shares in the last quarter. 50.20% of the stock is owned by institutional investors.

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.